Employers added 266,000 jobs in November and the jobless fee fell to a 50-year low of three.5%, matching September’s stage, the Labor Division stated Friday. Wages superior 3.1% from a yr earlier. The Wall Avenue Journal stories:
The U.S. job market strengthened in November, as hiring jumped and unemployment fell, including gas to the financial enlargement.
The stronger tempo of hiring may assist juice up the broader U.S. financial system, which continues to be increasing however at a slower tempo than final yr. U.S. inventory futures and government-bond yields rose Friday after the info was launched.
Hiring was robust in well being care, eating places and transportation jobs. In November, producers added 54,000 jobs, 41,000 of which had been in auto manufacturing. Basic Motors Co. employees, who had been on strike in October, helped drive the bounceback.