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.
Woke Formula One Driver Visits, Condemns Wall Imprisoning Palestinians – Clearly Has No Idea Egypt Actually Built It
The Genius Voting System We Could Use That Rewards Working, Military Service, and Age – Penalizes Taking Welfare, Being Criminal
Anti-Trump Republican courts other defectors as House weighs another vote against Iran war
Pentagon’s former UFO investigator offers simple theory for mysterious jellyfish-shaped object on video
Florida Republican on Democrats’ strategy: ‘That’s the choice they have to make…persecution or policy’
Natalee Holloway’s confessed killer caught trying to extort $250K from grieving mother in FBI sting video
From Democrats’ midterm romp to the MLB, many victors come out of the blue
Blue wave hits Vance’s 2028 chances
Newsom’s 2028 announcement puts Democrats on notice, but rivals aren’t rushing to follow
Watch: Baby Saved from Planned Parenthood After Sidewalk Counselor Convinces Father to Intervene
Struggling Canadian Vet Calls VA for Help, Says Caseworker Suggested He Consider Killing Himself With Canada’s New ‘Assisted Dying Service’
Inside the House GOP strategy to capitalize on Democrats’ warring factions in the new Congress
Trump keeps signaling an end to Iran war, but expert warns a crucial piece of his strategy is missing
Republicans unwilling to force an end to Iran war despite midterm beating
Richard Fowler wins Washington Examiner election contest
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.
