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.
Border Patrol commander vows continued tear gas use after Minnesota fedreal judge’s order
Tim Walz Gets the Response He Deserves After Suddenly Saying He Wants to ‘Turn the Temperature Down’
Minnesota National Guard placed on standby to support law enforcement as protests turn violent
Illegal migrant workers caught on camera leaping across rooftops to escape Border Patrol in California raid
‘SET UP’: Cohen Accuses Alvin Bragg, Letitia James of Coercing Him to Turn on Trump
Trump Gives Compassionate Response to Renee Good’s Father, Calls Her Likely ‘Wonderful’ Under ‘Normal Circumstances’
‘Where Was the Outrage?’: Father of 21-Year-Old Woman Killed By Illegal Rips Renee Good Protesters
One of Tyler Robinson’s last meals as a free man may have been a steak dinner — medium rare
Opinion: Thanks to the Woke Mind Virus Renee Good’s Son, 6, Will Grow up Without Parents – Satan Used, Abused, and Abandoned This Woman
Spanberger takes swipe at Trump admin, says Virginians worried about ‘recklessness coming out of Washington’
Archaeology: The 1st Extra-Biblical Proof That Pontius Pilate Lived, Literally Carved in Stone at Excavation Site in Ancient Biblical City
Police warn of ‘door kicking challenge’ that can turn viral prank ‘from funny to fatal’
Illegal immigrants rack up $1B+ in Texas hospital costs in FY 2025, total likely higher: report
US congressional delegation visits Denmark amid backlash over Trump’s push to acquire Greenland
81 GOP Lawmakers Just Voted to Fund an Elite Org That Exists to Elect Democrats and Suppress MAGA
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.
