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.
Fort Hood survivors praise Trump for scrapping Hasan execution livestream: ‘We’re not barbaric’
Trump links Michigan Senate candidate Abdul El-Sayed to Muslim Brotherhood: ‘He’s a con man’
WH Investigating Ex-Kennedy Center Head Over Reportedly Missing $5.6 Million Donation – Had Previously Fired Western Journal Founder Over His Faith
DOJ case attacks mass murder fandom culture behind Canadian school shooting
Bill and Hillary Clinton make eleventh-hour midterm moves as party’s old guard faces new reality
Somalis in Minnesota unleash fury on Trump after feds raid Ilhan Omar’s DC home
MS NOW Reporter Offers Hilarious Apology After Fake Reporting: Kash Patel ‘Did Not, in Fact, Land in Russia’
Gaza cut off from commercial goods imports, Israel says
James Talarico Tries To Play Moderate at CNN Town Hall, Gets Owned on Abortion by Catholic Voter
Watch: El-Sayed Visibly Stunned When NBC Turns Screws on Muslim Brotherhood Connection, Forces Him to Answer
Trump shares photos of ‘fully renovated White House facade’
Fox News ‘Antisemitism Exposed’ Newsletter: Israel haters admit what they really want
Obama’s billion-dollar baby: Chicago center’s price tag hits monumental milestone, tripling original estimate
Investigators zero in on possible cause of Wisconsin plane crash that killed 6
DOJ gives California 48 hours to review list of possible noncitizens on voter rolls
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.
