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.
Personal attacks, Israel, and terrorism define Michigan’s caustic Senate debate
ABC News Targets Trump Family, But Has to Immediately Delete False Story – Was Off by Billions of Dollars
California Medical Breakthroughs Bring In Hundreds of Millions While the Very Same Industry Suffers Substantial Job Loss
Evil Among Us: Watch as Satanic Prayer Opens City Council Meeting, But One Brave Man on Camera Refuses to Go Along
Mike Johnson Snags Record-Breaking Fundraising Haul to Power Republicans Into Midterm Homestretch
Federal grand jury hears evidence in probe of former Trump aide Cassidy Hutchinson’s Jan 6 testimony: source
Michigan Senate debate erupts into personal attacks as Rogers, El-Sayed clash over Israel, Iran and more
El Sayed dodges question on whether Israel or Iran poses greater threat to US: ‘Both of them have proven dangerous in their own way’
Letitia James Hit with 52-Count ‘Indictment’ from Her Republican Opponent
Fauci raved about China but fumed at Trump in diary
Arizona man arrested after allegedly emailing White House bomb threat to Tucson news station
Bombshell: New Text from Cornell Rape Accuser Contains 4 Case-Killing Words – ‘Our Body Our Choice’ – Media Omits Them All
Logan Federico’s dad says criminals have become ‘more important’ than victims, pushes repeat offender registry
Pentagon confirms Fort Hood terrorist’s firing squad execution will be livestreamed: ‘Details will follow’
Dem who ripped rival’s donor-fueled ‘good life’ dropped campaign cash on Disney, spouse travel
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.
