US-In November, US Jobs Growth Slows

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
In November, US Jobs Growth Slows
hiring

US jobs growth was weaker than expected last month, a slowdown that analysts blamed partly on a tight labor market.

Employers added 155,000 jobs, with health care, manufacturing and transportation firms driving the growth, the Labor Department said.

The gains kept the unemployment rate unchanged at 3.7%, near record lows, according to the report.

The average hourly pay for private sector workers increased at an annual rate of 3.1%.

November’s gains marked a slowdown from the roughly 200,000 jobs the US economy has added on average each month over the last year.


The Labor Department also said employers had added 12,000 fewer positions in September and October than previously estimated.

Paul Ashworth, chief US economist for Capital Economics, said Friday’s employment report may add to the nervousness that has hit financial markets in recent weeks.

However, he felt that the jobs growth was “still a solid gain that suggests economic growth is gradually slowing back towards its potential pace”.


“There is nothing here to suggest the economy is suffering a more sudden downturn.”

With the unemployment rate already low, economists have predicted that job creation will decelerate as businesses have a harder time finding workers.

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.

SEE ALSO  Jobs-Baker Hughes International Recruitment

“We view today’s decent employment report as a realignment of payrolls with the underlying trajectory of the economy,” Oxford Economics analysts said in a research note.

The Federal Reserve is still widely expected to raise interest rates at its regular meeting this month, moving forward with its fourth rate rise this year.

Make Money With WahClass

But analysts said the cooling labor market signaled in this report may convince officials to move more slowly in 2019.

Get an email when an update on this topic breaks

Share this
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Source :

Join the Trentimes Community and earn on the side

Trentimes is the best thing that is happening to Internet Business

Author

Imaeruaka Joseph .N

Imaeruaka Joseph .N

I believe in sharing wisdom with others. Utilizing life to its maximum and blogging is a call for me . Who is Imaeruaka Joseph? Imaeruaka Joseph also known as Inbuilt-Wisdom JIN, is an indigen of Amesi town, in Aguata local government area, Anambra state. Skills? 1. Copy writer (specialty; sales copy) Currently works with Sky blazer ventures, Niger standard industry ltd, Azodo fish farm. 2. Content creator (short stories, articles, memes and poems) Currently works with Andora Novella, Tis foundation and Medium. 3. Author at Amazon (kindle direct publish) Imaeruaka Joseph up to date has six books published on Amazon. -Marriage forum -Wisdom from its inbuilt -The Compile -Did i have sex? - a memoir -Maintenance of some basic electrical components -The poem stream. Reach out to me via email, [email protected]
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments

Subscribe to Get the Best Articles Weekly

Interests