The November jobs report beat even the most optimistic of projections, and the US labor market got a much needed dose of good news
The November jobs report beat even the most optimistic of projections, and the US labor market got a much needed dose of good news. New private sector jobs climbed by 321,000, well over the consensus estimate of 225,000. Jobs gain increased across the board, and include growth in professional services, retail trade, health care, and manufacturing. Unemployment remained at 5.8%. Perhaps the best news is the growth in wages, with the annual increase moving up to 2.1%. What's more, October job gains were revised up to 243,000 from 214,000. Basically, there wasn't a hint of bad news in this month's report. It will be interesting to see how the Fed changes its language in the next FOMC meeting based on this recent data. (VIEW LINK)
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