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.
Utah man charged with attempted hate crime after alleged threat to ‘blow up’ synagogue
Trump invokes Defense Production Act to boost US fuel refining capacity at Iowa rally
‘I basically snapped’: New Jersey mayor charges at resident during chaotic council meeting
Old Social Media Post Comes Back to Haunt Virginia Democrat After She’s Arrested on Drug Trafficking Charges
New York Democrat Accused of Attacking Opponent’s Mother Inside Bathroom: ‘Not Fit to Serve’
White House Wants Karoline Leavitt’s Help Finding New Press Secretary After Katie Zacharia Disaster
Watch: Socialists and Democrats Trigger Chaotic Brawl in European Nation’s Parliament
DOJ files hate crime charges against 22-year-old accused of plotting synagogue pipe bombing
NYC votes to end nearly 170-year-old horse carriage tradition as Trump blasts ban, drivers threaten lawsuit
Erika Kirk rips ‘absurd’ 2029 trial timeline for Charlie Kirk’s alleged assassin
DOJ opens investigation into Trump ally Corey Lewandowski
Musk: Austin Shooter Was Fired by Tesla After He Struck Woman Who ‘Accidentally Stepped on His Prayer Rug’
Over 100 arrested in California after $2 billion state-federal healthcare fraud crackdowns
Fox News Poll: Nail-biter in Maine Senate race
Man accused of smashing Iwo Jima statue with sledgehammer in Quantico
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.
