November NFP +266,00; Unemployment 3.5%

The November jobs report is out. The US economy created 266,000 net new jobs last month. The forecast was for 187,000. There were also positive revisions of 41,000 jobs (13,000 to September and 28,000 to October).

The unemployment rate is now 3.5% which is a 50-year low. The U-6 Rate ticked down 0.1% to 6.9%. The labor force participation rate is 63.2%. That also fell by 0.1%.

Average hourly earnings rose seven cents to $28.29. In the last year that’s up 3.1%.

Manufacturing saw an increase of 54,000 jobs. Motor vehicles and parts rose by 41,000 due to the end of the GM strike. Healthcare, as well as leisure and hospitality, rose by 45,000.

Posted by on December 6th, 2019 at 8:38 am


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