U.S. Economy On Track For Strongest Year of Job Creation Since 1999

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photo credit: bgottsab via photopin cc

The jobs numbers for November were released this morning by the Bureau of Labor and Statistics. Despite a lackluster opening to the holiday shopping season, payroll employment increased by about 321,000 in November. The report also included revisions to September-October numbers, The Wall Street Journal reports:

The strength wasn’t limited to last month. Revisions showed U.S. employers added 44,000 more jobs in September and October than previously estimated. October’s payroll gain was revised up to 243,000 from 214,000 and September’s growth was revised up to 271,000 from 256,000.

While unemployment remains steady at 5.8 percent, the increase in payroll jobs has economists speculating on long-awaited wage gains in the U.S. labor market. Typically wages tend to rise as unemployment falls; forcing employers to be more competitive in the labor markets. For now it’s a game of wait and see.

You can read the report here.

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Top photo credit: bgottsab via photopin cc

 

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