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.
Democrats’ Dismal Approval Numbers Could Help GOP Hold House and Senate: NBC News
Stevens Shares Devastating Election Eve Piece On Why She Disowned El-Sayed, Democratic Party: ‘How Will He Represent an Entire State?’
Florida polling places in 7 counties are moving locations due to flooding
Federal judge tosses Trump admin Harvard admissions lawsuit, leaves door open to future challenge
The battle for Congress is just the beginning. Here’s what’s at stake on Election Day
Ex-Chicago FBI chief sues DOJ, claims he was ousted over failed anti-ICE prosecutions
Mamdani threatens to sue Trump admin over ICE’s use of city-owned lots for immigration enforcement
Democrats rally around el Sayed after Stevens defection in final hours of campaign
‘Ilhan Omar’ May Have Already Compromised National Security, Foreign Affairs Committee Members Say
Ex-West Point cadet sued for secretly drugging pregnant girlfriend with abortion pills
JD Vance says Haley Stevens’ endorsement of GOP’s Mike Rogers will ‘certainly’ help Michigan Senate race
How a midterm tie gets settled in the case of the Senate
Judge Boasberg orders DOJ to stop demanding California officials set aside 20,000 ballots
Fed. Judge Suspended for Psychiatric Eval After Anti-White Outburst in Court Leads to Astoundingly Racist Quotes
Michigan County Stonewalls Reporter’s Attempt to Expose What El-Sayed Had to Say About Oct. 7
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.
