The US economy pumped out 211,000 new jobs in November, the Labor Department said today, a solid figure that supports the Federal Reserve beginning to raise interest rates this month.
Advertisement
Best Buy is selling iPhones for
Analysts say the sales of the iPhone 6s and 6s Plus picked up briefly during the Diwali but dived significantly thereafter. As the world’s largest publicly traded company, Apple (NASDAQ:AAPL) merits an opinion from { nearly
The U.S. economy added 211,000 jobs in November, the country’s Labor Department reported Friday. The September number moved up by 8,000, to 145,000, and the October figure improved by 27,000, to 298,000, for a total additional gain of 35,000 jobs.
Packers eager to face former teammate Woodson
MILESTONE WATCH: A few Raiders are closing in on some notable milestones, led by rookie Cooper. Carr needs two TD passes to join Daryle Lamonica as the only Raiders with 30 in a season.
The economy’s strengths were evident in last month’s hiring patterns: Construction firms added 46,000 jobs, the biggest increase in two years.
‘Pharma Bro’ quits: Martin Shkreli leaves Turing amid charges of swindling
In a statement , Turing said the leadership change would have no effect on the availability of Daraprim. Shkreli, 32, denied wrongdoing after he was arrested Thursday and then freed on a million bond.
Meanwhile, average hourly earnings increased by four cents to $25.25, or 0.2%, following a 0.4% rise in October.
“It was heartening to see growth in construction and that manufacturing held steady as… both are sensitive to higher interest rates”, said Tara Sinclair, chief economist at job search site Indeed.com. The unemployment rate remained steady at 5 percent, according to the monthly data from the agency’s Bureau of Labor Statistics – the last such report before the Fed meets later this month.
“There is no doubt that if we had to intensify the use of our instruments to ensure that we achieve our price stability mandate, we would”, he said in a speech at the Economic Club of NY.
“The better-than-expected November jobs report seals the deal”, Gus Faucher, a senior vice president and macroeconomist at The PNC Financial Services Group, wrote in a research note Friday.
A rate hike later this month would also establish more certainty among investors and end speculation on the timing of the first rate hike, which has contributed to increasingly volatile stock markets. Employers have now added a robust average of 213,000 jobs a month over the past six months.
A number of working age Americans who are looking for a job or are employed increased to 62.5%.
The November jobs report is out, and it’s meeting what were moderately high expectations.
Fed Chair Janet Yellen summed up the importance of the first rate hike in a speech Wednesday. In this regard, the job market has met the Fed’s standard to begin monetary policy tightening, analysts say.
U.S. equity markets took the jobs report as a confirmation that the economy continues to grow at a good pace, with the S&P 500 surging 2.1 per cent.
Advertisement
The Fed is on course to raise rates at a time when the European Central Bank (ECB) is going in the other direction as it bids to revive the stagnant eurozone economy. The college-level unemployment rate, which can serve as a proxy for professional employment, was also unchanged month over month at 2.5%.
