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.
Federal appeals court sides with Trump admin in judge’s Mahmoud Khalil decision
Top House GOP leader demands Tim Walz resign as Minneapolis erupts over ICE shooting
Alarming Video: Furious Somali Men Pour out of ‘Daycare’ and Accost Journalist Investigating Where $2.25 Million in Grant Money Went
House Democrats Are Tearing Themselves Apart Over ‘Performative’ Kristi Noem Impeachment Effort
Trump to meet with Venezuela’s opposition leader after praising ‘terrific’ Maduro loyalist
ICE deputy director resigns from agency to run for Congress
Israel will honor the late Charlie Kirk with award for opposing antisemitism
Watch: Josh Hawley’s Simple Pregnancy Question Traps Dems’ Expert Witness So Thoroughly That She’s Reduced to a Repeating, Looping Mess… and She’s a Medical Doctor
Trump threatens Minnesota with Insurrection Act after second federal shooting reignites protesters
Divine Judgement? Watch the Humiliating Moment Tim Walz Gets the ‘Tower of Babel’ Treatment as His Audio Goes Wild on National TV
Man runs into Florida street to save two young children who wandered away from rental home
Appeals judge seems skeptical of sentence for pro-Trump Colorado clerk Tina Peters
Obama wingman Eric Holder defended Walz’s vetting — then Minnesota’s fraud scandal erupted
Fox News Host Confronts Minneapolis Mayor to His Face on Dangerous ICE Rhetoric: ‘Here’s the Little Secret’
Cynthia Lummis endorses Hageman for Wyoming Senate seat
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.
