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.
‘He Was Licking His Lips With the Blood’ – Witness to Would-Be Beheading in N. Ireland Shares Grotesque Details
House Dem lashes out at GOP efforts to probe foreign donations with stunning claim on motive
Video: Christian Coffee Shop Hosts Worship as Vicious Trans Activists Scream, Attack Right Outside Their Door
‘Squad’ Dem dismisses fraud probe speculation after $29M net-worth drop
WATCH: Hearing turmoil as Jasmine Crockett unloads on MLK’s niece in wild racially-charged rant
Nancy Mace Announces Next Career Move After Losing South Carolina Gov. Primary
Karmelo Anthony isolated in jail as track meet killer appeals conviction, preps for prison stint
Video: Infuriated by Immigrant’s Attempted Beheading, Irish Citizens Set Fires Across Belfast
Obama-appointed judge with ties to anti-Trump conspiracy theory hit with misconduct complaint
Pregnant mother found murdered in Mexico as frantic search for missing children ends with surprise discovery
Senate Democrats urge a reluctant party to embrace Platner
First on Fox: Trump admin opens new front in fraud crackdown targeting health insurers, drug middlemen
God Help Us: Donations Continued to Roll in for Karmelo Anthony After He Was Convicted of Murder
GRAPHIC LANGUAGE: ‘This Is a War,’ ‘Both … Brothers Should Be Dead!’ – Chilling Videos from Karmelo Anthony Supporters Outside Courthouse
Trump concession breathes new life into stalled FISA spy powers deal
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.
