The imaginary recession of 2019 is over.
The U.S. economy added 266,000 jobs for the month and the unemployment rate fell to 3.5 percent, matching the lowest level in 50 years.
Economists had expected the economy to add 187,000 jobs and for unemployment to remain unchanged at 3.6 percent, according to Econoday.
Adding to the picture of strength for the labor market, previous jobs numbers were revised up. September’s figure was revised up by 13,000 to 193,000. October was revised up by 28,000 to 156,000. Together, that adds 41,000 more jobs than previously reported.
The Friday report on nonfarm payrolls makes it clear that the economy is much stronger than thought by those who were predicting U.S. growth would slow dramatically or contract near year end.
Obama’s billion-dollar baby: Chicago center’s price tag hits monumental milestone, tripling original estimate
DOJ gives California 48 hours to review list of possible noncitizens on voter rolls
Infinitely Gracious Caitlin Clark Defends Sulking Teammate Who Confirmed She Resents Clark
The Virtue Signaling Behind the Failing Somalia-to-Welfare Funnel
This sparsely populated red state quietly climbed to the top of America’s financial rankings
Most dramatic moments from Rep Mike Lawler’s fiery debate against Dem Cait Conley in battle for House control
The GOP Senate candidates skirting Trump’s diesel deal with Putin
San Jose girl, 8, dies after living in cockroach-infested home as mother, stepfather face charges
Former White House press secretary Karoline Leavitt opens up about Trump, motherhood
Pentagon sends hundreds of Army troops to Latin America for training as drug-trafficking campaign expands
Trump announces advanced weapons testing ‘super range’ in Montana
MS NOW Falsely Reports Kash Patel Is in Russia – Gets Brutally Fact-Checked Directly by the FBI
Tension erupts during House midterm debate as Lawler fact-checks New York Democrat opponent on immigration
‘Serial Killer’ Concerns Grip Michigan’s Capital as Similarities Are Noted in 5 Recent Deaths
Copper theft suspect’s desperate escape caught on bodycam video before deputies discover what he left behind
Hiring in November was strong across the board. Manufacturing, which had been a source of weakness in earlier reports, added 54,000 jobs. This was boosted by the end of the strike at General Motors, with autos adding 41,000. But economists, whose estimates were meant to reflect the end of the strike, had predicted just 15,000 extra jobs.
Healthcare added 45,000 jobs, as did leisure and hospitality. Employment in professional and technical services grew by 31,000.
Average hourly wages are up 3.14 percent compared with last year, above economist expectations. In manufacturing, the average workweek increased by 0.1 hour to 40.5 hours. Average hourly ages of private-sector production and nonsupervisory employees rose by 7 cents in the month to $23.83, a 0.22 percent gain.
The labor force participation rate was little changed at 63.2 percent in November. The employment-population ratio was 61.0 percent for the third consecutive month. Both numbers would ordinarily be declining to do the expected retirement of baby-boomers. Holding steady indicates that the strong labor market is enticing workers to stay on the job.
Story cited here.
