Economy Adds 155K Jobs in November, Unemployment Holds at 3.7%

Economy Adds 155K Jobs in November, Unemployment Holds at 3.7%

The U.S. economy gained just 155,000 jobs during the month of November, according to data from the Bureau of Labor Statistics released on Friday. The African-American jobless rate declined to 5.9 percent, matching May's figure as the lowest on record.

Michael Mabry, chief operating officer at Mooyah, a fast-causal burger chain mostly located the south, says his company has had to raise pay and offer more flexible scheduling to attract new workers. Both the labor force participation rate and the employment-population ratio were left largely unchanged at 62.9 percent and 60.6 percent, respectively. "Wages are rising at their fastest pace in a decade for our workers and almost 2.3 million jobs have been created this year alone - the Republican pro-growth agenda is making a real impact for families and individuals across the country".

Job gains were strongest in healthcare, manufacturing, and transportation and warehousing.

Average hourly earnings were up by six cents in November to $27.35.

In addition to the November jobs report falling below expectations, October's count was revised lower from an initially reported 250,000 to 237,000.

Economists doubt that employers can continue hiring at a 200,000-plus monthly pace for much longer, as the USA hurtles toward a record-setting expansion in 2019.

USA employers added just 155,000 jobs in November, a slowdown from recent months but enough to suggest that the economy is expanding at a solid pace despite sharp gyrations in the stock market.


Within healthcare, ambulatory healthcare services showed the most employment growth last month, adding 19,200 jobs. Construction employment rose by only 5,000 jobs after companies added 24,000 workers to their payrolls in October.

US work development hindered in November and month to month compensation expanded not exactly expected, proposing some control in monetary action that could bolster desires for less loan cost increments from the Federal Reserve in 2019.

Average hourly earnings increased 0.2% in November compared with October and were up 3.1% compared with November 2017.

This jobs report came at a tumultuous time for financial markets, as Wall Street investors tried to unravel whether the sell-off in stocks was symptomatic of economic malaise and amid concern the Federal Reserve was raising interest rates too quickly. "However, it's hard to expect the economy to sustain over 200,000 jobs each month while maintaining such a low unemployment rate, especially given the impact of wildfires and the continuation of tariffs and trade policy changes". A weakening housing market, held back by higher mortgage rates, contributed to that decline.

"If the trade situation goes on for long enough, you could start seeing some of the job growth in those sectors be impacted", Martha Gimbel, director of economic research of job website Indeed.com, told MoneyWatch this week.

Retail employment increased by 18,200 jobs in November, likely boosted by an early Thanksgiving.

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