266 000 new jobs for the month were created in the USA: the most demanded areas - ForumDaily
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In the USA 266 000 of new jobs for a month were created: the most demanded areas

According to data released on Friday by the Department of Labor, the US labor market in November showed amazing results: the number of jobs in the non-agricultural sector increased by 266 000, and the unemployment rate fell to 3,5%.

Фото: Depositphotos

Wall Street economists surveyed by Dow Jones expected steady job growth of 187 and expected the unemployment rate to remain stable at 000%, the same as in October, writes Fox Business. The results “exceeded expectations,” the publication notes. Stock prices and bond yields also increased.

“Bottom line: America works,” said National Economic Council Director Larry Kudlow. — These are very strong numbers. These are lucky numbers."

Job growth was the best since January's 312 and surpassed November 000's 2018. While hopes had already been met, much of the gains were based on the return of General Motors workers after a long strike. This dynamic actually increased auto industry employment by 196, part of an overall increase of 000 in manufacturing. The vehicle and parts sector shrank by 41 positions in October.

New jobs were distributed among many sectors. The healthcare sector added 45 000 jobs after only 12 000 appeared in October.

On the subject: Cities with the highest job growth in the country: how much they earn

Leisure and hospitality jobs grew by 45, professional and business services jobs grew by 000; both sectors are up 31 and 000 respectively over the past 219 months. Wage growth was also better than expected.

The average hourly earnings increased by 3,1% compared to the previous year, while the average working week remained unchanged at 34,4 hours. In addition to significant November growth, the changes brought the average monthly value of 2019 of the year to 180 000 compared to 223 000 in 2018.

“This is an explosive performance, and the U.S. economy remains focused on jobs,” said Tony Bedikian, head of global markets at Citizens Bank. — The unemployment rate is at a 50-year low, and wages are rising. Business owners may become more cautious due to trade and political uncertainty, and growth may be slow, but consumers continue to spend."

The unemployment rate in 3,5% compared to 3,6% in October returned to the lowest of the 2019 year and corresponds to the lowest since the 1969 year. According to the calculations of the Federal Reserve of Atlanta, the US economy needs to create about 107 000 jobs per month in order to keep the unemployment rate stable.

But the news does not please everyone. As the holiday shopping season progressed, retailers added a total of 2 000 net jobs, and the mining industry lost 7000 jobs, resulting in 19 000 jobs lost in May.

On the subject: In September, 136 000 jobs were added to the USA: in which cities is it easiest to find a job

A report on jobs was presented in a difficult year for the US economy. Fears of recession intensified in late summer. The trade war between the US and China also raised concerns about instability, and the bond market sent signals related to a possible recession. The Federal Reserve has responded to this by lowering the base interest rate by 3 times. This time the Fed is convening next week, and officials have made it clear that they are not planning further rate changes unless the conditions change significantly.

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