GOOD JOBS REPORT – AT 9:46 A.M. ET: Things are looking up. From CNBC:
The U.S. economy created 228,000 jobs in November while the unemployment rate held steady at 4.1 percent, according to a Labor Department report Friday.
Economists surveyed by Reuters had expected nonfarm payrolls to grow by 200,000.
A more encompassing measure of joblessness that includes discouraged workers and those holding part-time positions for economic reasons moved up one-tenth to 8 percent. The ranks of those not in the labor force edged higher by 35,000 to 95.4 million.
Wall Street also was watching wage data closely. Average hourly earnings were estimated to rise 0.3 percent for the month or 2.7 percent for the year, and the final results disappointed in that regard.
Earnings rose 0.2 percent for the month and 2.5 percent for the year.
"The November employment data is largely as expected. For an expansion that began in mid-2009, no negative surprises are welcome," said Mark Hamrick, senior economic analyst at Bankrate.com. "The lingering impacts of recent hurricanes and flooding have reverted back to relative calm in the statistics, meaning that this is a 'cleaner' number."
COMMENT: We've got to get wages higher so the American worker can participate fully in the growing economy. But, overall, we're doing well, and manufacturing jobs – real jobs – are increasing.
But waiting in the wings, ready to run again for president in 2020, is Bernie Sanders, socialist. Maybe he'll forget there's an election.
December 8, 2017 |