US companies are creating more jobs

In November, 211 thousands of jobs were created in the USA. This gives a firm assurance that the Federal Reserve will raise interest rates. This number of jobs in November exceeded all expectations. Economists polled by CNN Money predicted only 192 thousands of jobs.

The unemployment rate remained unchanged at 5% and is considered the lowest since 2008.

“October and November were very productive months and will be able to offset the job declines in August and September,” said Phil Orlandlo, chief economist at Federated Investors.

Wages are also starting to increase. Average hourly wages increased 2,3% compared to last year. This figure is lower than October's - which rose to a 6-year low - but it is better than wage growth earlier this year.

Most jobs have been created in the construction, healthcare and business services sectors.

Construction accounted for 46 thousand jobs, and health care and business services each accounted for 24 thousand new vacancies.

The Federal Reserve is likely to raise rates in December.

“The labor market is showing stability. Literally all indicators are good. The likelihood of a rate hike in December is now very high,” said Michael Feroli, chief economist at JPMorgan Chase & Co.

Earlier, Forum wrote that in October the unemployment rate fell to a seven-year low of five percent.

If you are you in search of work, the Forum described in detail how and where to look for work in the USA and cited real people's stories as examples.