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.
Inside Fauci’s private diary: What he wrote about Trump, TV personalities and celebrities
ICE prepares major operation targeting Haitians losing TPS after Supreme Court ruling
One dead, 6 injured after gunfire erupts at unsanctioned California party that drew hundreds: sheriff
Jeffries pivots to Trump and GOP when asked about noncitizens on New Jersey voter rolls
Melania Makes Next Move After Judge Tosses Out Anti-Trump Author’s Lawsuit Against Her
This red state is strengthening its grip as America’s next economic heavyweight
Mickey Mouse Massacre: Disney Has Third Round of Layoffs, Hitting ESPN, Pixar, More
Everyday Revolutionary War heroes take center stage in Trump’s ‘Spirit of ’76’ exhibit
Watch: Red Skelton’s Legendary Pledge of Allegiance Performance for Kids Resurfaces After Another Dem Lawmaker Disrespects the Pledge
Drinking Coffee Is Actually Good For Your Heart, But There’s A Catch
Fauci’s newly released COVID diaries reveal bizarre fixation on fame as pandemic deaths mounted
Watch: Weakest Police Chief in America Lets Marxists Take Over Briefing, Call for Murder of His Officer, and Then He Thanks Them for Coming
Video: Missouri High-Speed Chase Suspect Survives After Stopping Car, Swan Diving Off Bridge to Escape Cops
Missing Grand Canyon hiker, 83, rescued after getting separated from companion
Listen: As Islamists Slaughter Christians, Democrat Candidate Warns Christians Feel ‘Very Threatening’ to Her – She’s a Christian Minister
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.
