bernard
THEE Realist
“What we wanted was a strong but moderating labor market, and that’s what we saw in the November report,” said Robert Frick, corporate economist with Navy Federal Credit Union, noting “healthy job growth, lower unemployment, and decent wage increases. All this points to the labor market reaching a natural equilibrium around 150,000 jobs [per month] next year, which is plenty to continue the expansion, and not enough to trigger a Fed rate hike.”
Health care was the biggest growth industry, adding 77,000 jobs. Other big gainers included government (49,000), manufacturing (28,000), and leisure and hospitality (40,000).
Heading into the holiday season, retail lost 38,000 jobs, half of which came from department stores. Transportation and warehousing also showed a decline of 5,000.
Duration of unemployment fell sharply, dropping to an average 19.4 weeks, the lowest level since February.
The report comes at a critical time for the U.S. economy.
www.cnbc.com
Health care was the biggest growth industry, adding 77,000 jobs. Other big gainers included government (49,000), manufacturing (28,000), and leisure and hospitality (40,000).
Heading into the holiday season, retail lost 38,000 jobs, half of which came from department stores. Transportation and warehousing also showed a decline of 5,000.
Duration of unemployment fell sharply, dropping to an average 19.4 weeks, the lowest level since February.
The report comes at a critical time for the U.S. economy.
U.S. payrolls rose 199,000 in November, unemployment rate falls to 3.7%
Nonfarm payrolls were expected to increase by 190,000 in November, according to the Dow Jones consensus estimate.
