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.
Trump to honor Artemis II astronauts who traveled farther from Earth than any humans in history
Trump fires back after protester interrupts Myrtle Beach rally for Graham: ‘Mom is voting for us’
More Westerners Waking up to Islam as Gov’t Bans Face Coverings, Leaving Both Muslims and (Ironically) Feminists Angry
Trump rally security ejects protester wearing ‘kill your local pedophile’ shirt
Candace Cameron Bure Tears Up on Air Over Constant Criticism, But God Provided a Literally Perfect Smile Through the Pain
Fauci’s lawyers launch legal defense fund as federal, state investigations mount against him
‘Escalating Pressures’ from the FCC Have Impacted ‘The View’s’ Guest List: Disney Lawsuit
Late-night bull run ends with a little cowboy know-how on busy California highway
They Never Learn: NYT Ordered to Pay $9 Million After Falsely Linking Innocent Student to 2023 Murder
New Jersey mother allegedly drunk when boat hit channel marker on Memorial Day, killing her son
Texas Gov Abbott asks the Justice Department to investigate ‘discriminatory’ Islamic washing stations
DOJ says Rubio should have final say over Foreign Service board in latest bid to tighten executive powers
Trump Announces Deal to ‘Substantially Lower the Price of Ground Beef’
Chinese Man Charged with Illegally Voting in US Election and Trying to Frame Someone Else
Vance unloads on El-Sayed over Sharia remarks: ‘That’s not my grandpa’s Democratic Party’
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.
