Labor market remained strong in November as U.S. economy added 266,000 jobs [View all]
Source: Washington Post
The United States added 266,000 jobs in November as the jobless rate decreased to 3.5 percent, the latest snapshot of an economy that appears to have slowed but stabilized in recent months.
The data, released by the Bureau of Labor Statistics, beat expectations. Analysts had forecast roughly 180,000 new jobs for the month. The 3.5 percent unemployment rate matches a 50-year low that the labor market had set in September.The tally was impacted by thousands of General Motors workers who returned to their jobs in late October after a lengthy strike.
The labor market has remained one of the brightest spots in the economy, and combined with the high stock market has contributed to high levels of consumer spending and a relatively rosy consumer sentiment.Many employers are still struggling to find qualified workers to fill jobs, but other companies have had to cut jobs because of a recent pullback in manufacturing demand.
The labor market’s health could have big implications for the 2020 elections. Concerns about a looming recession have waned, but the economy has still shown signs of cooling. Economists have warned the mounting toll of President Trump’s protracted trade war has strained global trade growth and slowed the creation of American jobs. Federal Reserve Chair Jerome H. Powell has said Trump’s tariffs have wrought so much uncertainty that companies are delaying investments and slowing the economy.
Read more: https://www.washingtonpost.com/business/2019/12/06/labor-market-remained-strong-november-us-economy-added-jobs-jobless-rate-fell-percent/
Full headline: Labor market remained strong in November as U.S. economy added 266,000 jobs and jobless rate fell to 3.5 percent
It's "that" Friday again
and our DU economic analysts should be along today to give us the drill-down of this data!
= new reply since forum marked as read
