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.
We Didn’t Get This Angry Because Americans Changed: We Got This Angry Because Washington Did
Fox News Legal Analyst Jonathan Turley Thoroughly Dismantles Lindsay Clancy’s Attorney After Debate Challenge
The Constitution Was Made for a Moral People: It’s Time to Teach Our Kids That Lesson
Obama Operative Turned Trump Voter Exposes the Anti-Working-Class Bigotry That Destroyed the Democrats
Fox News Stars Mourn the Brutal Murder of a Beloved ‘Fan Who Became a Friend’
Illegal Alien Released by Biden Admin Arrested After Allegedly Executing California Woman in Public
El-Sayed ignites firestorm after sharing 9/11 message on social media: ‘Piece of s—‘
Fox News True Crime Newsletter: Lindsay Clancy jurors, Bryan Kohberger’s legal move, Menendez brothers hearing
Firefighter caught on camera ripping pro-Palestinian agitator in Elmo costume near Ground Zero on 9/11
EXCLUSIVE: Pence group knocks Vance plan to pay stay-at-home parents up to $9K per child
Clinton, Bush received multiple warnings on bin Laden hijack plots before 9/11, declassified files show
First use of Alien Terrorist Removal Court sends Afghan woman back after Election Day ISIS plot: DOJ
Nashville Airport Authority Votes Unanimously to Change Name to Honor Dolly Parton
‘Open sore’: Families face agonizing wait as 9/11 mastermind’s trial pushed nearly 27 years after attacks
Watch: Convention Crowd Symbolically Anoints JD Vance for 2028 with Chant
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.
