The U.S. Economy Added 199,000 Jobs in November, Unemployment Fell to 3.7%

[mystery-ak]

The U.S. Economy Added 199,000 Jobs in November, Unemployment Fell to 3.7%

John Carney 8 Dec 2023

Employers in the United States added 199,000 workers to their payrolls in November, the Department of Labor said Friday.

The unemployment rate fell to 3.7 percent from 3.9 percent.

Economists had expected the economy to add 185,000 after payrolls were reported as increasing by 150,0000 in October. That figure was unrevised in this month’s report. In September, employers grew their payrolls by a downwardly revised 262,000. In August, payrolls rose by 227,000.

The unemployment rate was expected to hold steady at 3.9 percent.

The slowdown in hiring has bolstered market expectations that the Fed is done raising rates and will begin cutting in the first half of next year. The Fed decided at its meetings in November and in September to hold rates steady to see how earlier rate increases are affecting the economy. It is universally expected to hold rates steady at its meeting next week

The Federal Reserve has been trying to cool off demand for labor, fearing that higher wages could put upward pressure on inflation. In recent months, those efforts have appeared to pay off as job openings have fallen and payroll growth slowed.

more
https://www.breitbart.com/economy/2023/12/08/the-u-s-economy-added-199000-jobs-in-november-unemployment-fell-to-3-7/

[mystery-ak]

Here’s The Secret Behind Biden’s Jobs Numbers. Hint: It’s Not Manufacturing


Will Kessler
Contributor
December 11, 2023 4:50 PM ET

The U.S. added a solid 199,000 nonfarm payroll jobs in November, but the composition of those newly added jobs was dominated by three sectors and boosted by government funding, according to the Bureau of Labor Statistics (BLS).

The majority of jobs added in November were from the government, health care or leisure and hospitality sectors, adding 77,000, 49,000 and 40,000 jobs, respectively, according to the BLS. Part of the remaining gain came from the manufacturing sector, which added 28,000 jobs but was boosted by 30,000 unionized autoworkers returning from a strike, meaning the sector actually lost 2,000 jobs.

“There are essentially two economies right now — the private sector economy and the government economy.” Michael Faulkender, chief economist and senior advisor for the Center for American Prosperity, told the Daily Caller News Foundation. “With massive deficit spending and a complete disregard for its cost, the government is expanding its activities and the result is hiring in the government, health care, and social assistance industries.”

more
https://dailycaller.com/2023/12/11/secret-biden-jobs-manufacturing/

[DefiantMassRINO]

... probably crap service jobs.  You can't build, mine, or manufacture anything in the US anymore.