Economy adds 228K jobs in November

12 December, 2017, 19:08 | Author: Diane Mills
  • Employers other than farms added 228,000 jobs to their payrolls in November

The Jobs Report shows major signs of a healthy economy, as the economy added a total of 228,000 jobs last month, higher than the 195,000 that economists predicted.

Average hourly earnings rose five cents or 0.2 percent in November after dipping 0.1 percent the prior month.

Despite the wave of new positions, however, American workers still aren't getting much of a raise, he added. "Everyone is scratching their heads".

Economists polled by Reuters had forecast payrolls rising by 200,000 jobs last month.

USA workers also put in more hours last month.

The US unemployment rate was unchanged at a 17-year low of 4.1% amid a rise in the labour force.

Jobs report? It's the wage report now.

"These are really strong numbers, which is pretty exciting, since this is our first clean read after the volatility associated with the hurricanes", Josh Wright, chief economist at iCIMS, a hiring software firm, told the Post.

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"Historically, when you see tax cuts, there's been no strong correlation there", he said. Since November 2016, manufacturing employment has increased by 189,000.

Responding to the news, White House Press Secretary Sarah Sanders said, "We're especially pleased to see the manufacturing sector roaring back to life, adding a total of 159,000 jobs since President Trump took office after averaging a loss of more than 1,000 jobs per month during the past year of the previous administration".

September's figures, after being reported in the negative after the storms rose to 38,000 from 18,000. It was the 86th consecutive month that the economy has added jobs.

Results for both September and October were revised.

Health care also showed strong expansion, the government data show.

Construction jobs surged by 23,000 in November, thanks in part to the rebuilding efforts in hurricane-devastated parts of Texas and Florida.

The U.S. Bureau of Labor Statistics released the November Jobs Report on Friday, and manufacturing was one of the fastest growing job sectors.

USA economic growth has hit an annualised rate of 3% or more in the past two quarters, while the unemployment rate is at its lowest since 2000.

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