Job growth roared in November with an increase of 266,000 jobs, but how can this be? The doomsayers claimed there would only be 188,00 jobs.
Unemployment ticked back down to the half-century low of 3.5 percent as more people were looking for work. The labor force participation rate was little changed at 63.2 percent.
Average hourly earnings, meanwhile, rose by 3.1 percent over the past year to $28.29.
The revisions for prior months ADDED jobs. Revisions added 41,000 jobs for the prior two months, bringing the three-month average to 205,000, a 10-month high.
Hiring was strong almost across the board, with health care, hospitality and professional occupations leading the way.
The Federal Reserve is correct — the economy is STRONG. the USA is withstanding the global slowdown.
“This is a blowout number and the U.S. economy continues to be all about the jobs,” said Tony Bedikian, managing director of Citizens Bank.
Before the November employment report, premarket trading pointed to a higher opening for the stock market DJIA, +0.10%.
-
The Importance of Prayer: How a Christian Gold Company Stands Out by Defending Americans’ Retirement
