USA unemployment rate flat at 3.7 pct in November

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Laurence Marzo, left, and Ty Ford, right, move a conveyor belt into place to help unload a truck carrying merchandise at a Walmart Supercenter in Houston.

The economy is expanding robustly, with growth reaching 3.9 percent at an annual rate over the summer and fall, the best six-month pace in four years.

Forecasts also call for economic growth to slow over the next year, as a boost from new tax cuts and increased government spending starts to fade.

For most Americans, jobs and incomes are the most important economic measures.

Job gains were strongest in healthcare, manufacturing, and transportation and warehousing. "This report strongly implies that a recession is not looming just over the horizon".

US jobs growth slows in November
Data show a job market that's slowing, or at least pausing

"Rising wages is one of the factors likely to induce a Federal Reserve entrusted with controlling inflation to raise interest rates later this month", MarketWatch said.

"This is the sort of jobs report that manages to both calm folks at the Fed a bit - no, we're not right on the cusp of overheating - while also continuing the narrative of robust ongoing jobs growth that will, if it continues, keep bringing unemployment down", said Justin Wolfers, a economist at the University of MI.

In the wake of the work report, USA money related markets kept on evaluating in one rate climb from the Fed in 2019, contrasted and desires for conceivably two rate climbs multi month sooner, as indicated by CME Group's FedWatch program. We calculated the percentage change from January 2018 through October 2018, the latest month for which employment data at the metro area level is available. The African-American unemployment declined to 5.9 percent, matching May's figure as the lowest on record.

Employment gains in September and October combined were 12,000 less than previously reported.

Meanwhile, the amount of long-term unemployed Americans - those who have remained jobless for 27 weeks or more - declined by 120,000 to 1.3 million last month.


The economy has added jobs for 98 straight months, beginning in October 2010 under former President Obama.

"The outlook for next year is for slower hiring, but not a halt in job creation", Hamrick said.

Yet most economists said last month's job gain of 155,000 is more sustainable than some of the larger increases posted earlier this year.

That's boosting consumer confidence to almost 18-year highs, spurring more spending, and bolstering winter holiday shopping. And both manufacturing and services companies expanded at a healthy pace in November, according to a pair of business surveys. New home building fell 2.6 percent in October from a year earlier.

Investors, however, are mostly focused on where the economy is headed.


The U.S. central bank is expected to increase borrowing costs on December 18-19 for the fourth time this year. Since President Trump was elected in November 2016, the USA economy has created 4.6 million jobs. Higher tariffs would compound the risks for a global economy that is already grappling with dismal growth figures from Europe and Japan.

And the Federal Reserve has raised short-term interest rates three times this year and is likely to do so a fourth time later this month, thereby raising borrowing costs for consumers and businesses.

The figures, released Friday by the Labor Department, point to an economy that is still adding jobs at a steady rate after almost 10 years of recovery.


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