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.
DOJ’s Harmeet Dhillon: Some states have ‘homework to do’ to keep noncitizens from voting in midterm elections
House Republican Thomas Massie suggests Obamacare could now be labeled ‘Trumpcare’
Trump holds Washington hostage over SAVE Act as midterm clock ticks on GOP control
US on track to intercept 16 times as many suspected terrorists at border under Trump thanks to cartel designations
Maryland may finally see redistricting action — just not the way Wes Moore wanted
Music and patriotism: Dukes of Hazzard star praises community and family at Great American State Fair
Tyler Robinson preliminary hearing: Judge orders redactions to ex-lover’s video testimony
Social media influencer and model, 22, killed in violent highway crash
Trump threatens troop withdrawals if ‘very good deal’ on Greenland isn’t struck
Stepdad accused of sex assault as cops widen probe into girl’s lethal Benadryl ingredient dose
More than 30 injured after Maryland transit bus crashes into building near Baltimore
House Dem back in the spotlight as brother faces up to 10 years in prison if convicted
Platner drops out of crucial Senate race after bombshell rape allegation torpedoes campaign
Franklin Graham Gives McDonald’s ‘Free Advice’ on How to ‘Bring Happy Customers Back’
Who is Valli Geiger? Meet the Maine Dem that Platner urged to run for Senate
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.
