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Unemployment Stays Low, Jobs Added as Momentum Continues

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The Bureau of Labor Statistics reported Friday that the United States labor market added 155,000 new jobs in November, a number that fell short of Wall Street expectations but nevertheless indicates the economy is growing at a solid pace, according to Fox News.

The unemployment rate remained at 3.7 percent for the third straight month, a number formerly not seen since 1969.

Across the board, unemployment for major working groups has remained steady with unemployment for adult men at 3.3 percent, adult women 3.4 percent and teenagers 12 percent.

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Unemployment rates for African-Americans, Asians and Hispanics was largely unchanged, according to BLS, at  5.9 percent, 2.7 percent and 4.5 percent, respectively.

November did, however, see a drop in unemployment for those who had been unemployed long-term.

Unemployment for those who had been unemployed for 27 weeks or more declined by 120,000, down to 1.3 million in November.

The increase in jobs is less than expectations which predicted that about 198,000 jobs would be added in November.

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“The slightly more modest 155,000 gain in payroll employment in November may not go down well in markets given the heightened nervousness in recent months, but this is still a solid gain that suggests economic growth is gradually slowing back towards its potential pace,” said Paul Ashworth, chief U.S. economist at Capital Economics, according to Yahoo.

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

Josh Wright, chief economist of software company iCIMS, told FOX Business ahead of the report, that he believes retailers will likely struggle to fill seasonal roles in the labor market.

“Job openings in the retail industry rose nearly 5% in a month when they normally decline (and did in fact decline in the other 4 industries we track), before seasonal adjustments,” he said according to Fox.

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November’s job gains were focused in health care, manufacturing and transportation, according to the BLS.

Health care providers hired 32,000 people in November, while manufacturers added 27,000 and transportation added 25,000.

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Savannah Pointer is a constitutional originalist whose main goal is to keep the wool from being pulled over your eyes. She believes that the liberal agenda will always depend on Americans being uneducated and easy to manipulate. Her mission is to present the news in a straightforward yet engaging manner.
Savannah Pointer is a constitutional originalist whose professional career has been focused on bringing accuracy and integrity to her readers. She believes that the liberal agenda functions best in a shroud of half truths and misdirection, and depends on the American people being uneducated.

Savannah believes that it is the job of journalists to make sure the facts are the focus of every news story, and that answering the questions readers have, before they have them, is what will educate those whose voting decisions shape the future of this country.

Savannah believes that we must stay as informed as possible because when it comes to Washington "this is our circus, and those are our monkeys."
Birthplace
Houston, Texas
Location
East Texas
Languages Spoken
English
Topics of Expertise
Politics




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