U.S. Employers Add 155,000 Jobs In November, Unemployment Remains at 3.7% – Lowest Rate In 50 Years
By Fox Business // December 8, 2018
98th-straight month of gains in wage growth
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(FOX BUSINESS) – U.S. employers added 155,000 jobs in November, missing Wall Street’s expectations for an increase of 200,000 jobs, after an already rocky week for stocks exacerbated on Thursday by investor fears that a U.S-China trade deal could be reneged amid newly inflamed tensions.
The unemployment rate remained steady at 3.7 percent, the lowest rate in 50 years, while the labor force participation rate also stayed the same at 62.9 percent during the month.
Average hourly earnings meanwhile rose by 6 cents to $27.35. Over the year, average hourly earnings have increased by a total of 81 cents, or about 3.1 percent.
Although it was a weaker-than-expected number, experts portrayed the data as another good report, particularly regarding wage growth. It’s the 98th-straight month of gains and indicates that despite a slight miss, the labor market remains robust and the economy strong.
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