12.02.2016
The U.S. economy continued to create jobs at a steady pace in November according to the Bureau of Labor Statistics. Employers added 178000 jobs in November. Job growth in October was revised to 142000 down from initially estimated 161000. Over the past three months job gains have averaged 176000 per month.
Average hourly earnings for all employees declined by 3 cents to $25.89 following an 11-cent increase in October. Over the year average hourly earnings have risen by 2.5 percent.
The unemployment rate declined to 4.6 percent in November; its lowest rate in nine years. The unemployment rate reflects mixed underlying trends; more people are finding jobs but over 400000 dropped out of the labor force reflecting an aging workforce and discouraged workers. The labor-force participation rate—those with jobs or actively seeking work edged down to 62.7 percent in November from 62.8 percent in the prior month and continues to hover near a four-decade low.
The full BLS press release on November 2016 employment situation can be accessed in the link below:
The next employment situation report for December 2016 will be released on Friday January 6 2017.
