November Jobs Report: Everything You Need to Know

November Jobs Report: Everything You Need to Know

The US jobs market continued generating jobs at a solid pace last month as accelerated hiring in mining and manufacturing offset a slowdown on the services side of the economy.

Average hourly USA earnings rose five cents or 0.2% in November after dipping 0.1% the previous month.

Fed Chair Janet Yellen has previously said that while the USA labor market is nearing full employment, she remains concerned with low wage growth.

Average hourly earnings went up by just 2.5 percent over the past year.

The U.S. economy added 228,000 jobs in November, the Labor Department said on Friday. Those figures, which are preliminary and could be revised, were released alongside a provisional report from BLS that the broader USA economy gained 228,000 nonfarm jobs in November, while the nation's unemployment rate remained unchanged at 4.1 percent.

As well, both Shepherdson and Ashworth continued to expected wages to eventually move higher as the labour market continued to tighten.

The Bureau of Labor Statistics' (BLS) latest jobs report for November is out, and it's continuing to show a decline in travel booking jobs. Year over year, travel booking lost approximately 21,800 jobs. Lowering the corporate tax rate, they assert, will inspire firms to invest more on American soil.

"The Fed has to be cognizant of the fact that if we run employment at 4%, inflation could rise above their 2% target", said Gus Faucher, economist at PNC Financial Services.

The unemployment rate was last below 4% in late 2000.

Friday's report met expectations. Leisure and hospitality, the sector most impacted by recent hurricanes, grew by 14,000 jobs last month, a somewhat weaker gain compared to average monthly growth this year before hurricanes Harvey and Irma struck the southern U.S.in late summer.

The picture is brighter for the overall leisure and hospitality sector, which added 14,000 jobs last month, and was up by 63,000 jobs from a year ago. It suggests that while job creation has been outpacing population growth, it's not growing fast enough to have brought all the sidelined workers back into the job market yet.

The jobless rate for those who have served in the armed forces anytime since 2001 jumped to 4.6 percent in November from 3.6 percent in October.

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