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.
Video: Teenage Girl Charged with Assault After Attacking Middle School Football Player During Game
Jury awards teens $550K after Oregon amusement park ride left them hanging upside down: report
Fake Hate: School Board Member Created Story About HS Football Coach – Took Years and $350k in Legal Fees for Truth to Surface
Surrogate says baby ‘ripped away’ 60 seconds after birth as custody fight erupts after abortion refusal
Watch: Scott Jennings Goes Nuclear on Democrats ‘Punching Down’ on Top Trump Aide
Vice President JD Vance blasts Mamdani, El-Sayed, AOC and Ossoff in rapid-fire TikTok roast
Lindsay Clancy Blamed ‘A Male Voice’ for Ordering Her to Kill Her Children: Court Testimony
Newspaper Columnist Quits After Editors Kill Story on a Teen Sophie Cunningham Fan Who Thanked Her for ‘Speaking Up for Girls’
Carville unloads on DSA socialists: ‘Don’t use our god—- name’
Bodycam video shows Oklahoma secretary of state’s arrest outside McDonald’s on public intoxication allegation
Obama strategist turns on rising Dem star over viral Trump attack: ‘Gratuitous and unnecessary’
Republicans Score Crucial Court Win on Redistricting Just Before Midterms
El-Sayed booked for major Islamic convention alongside clerics with radical pasts
Progressives notch victory in race to replace Swalwell following sexual assault scandal
‘Definition of evil’: Satanist child abuse cult leader tied to 30 victims worldwide
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.
