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This Gaurantees a Fed Rate Rise in December, and probably a few more in 2017.
Trump will be taking over a pretty strong economy.
Though part of the unemployment fall is Boomers dropping out of the Workforce: a demographic problem that really isn't solvable, at least by mass immigration of low wagers.
And why "4%" growth isn't likely without counterproductive hyper-stimulus.
U.S. Nonfarm Payrolls Rose 178,000 in November; Unemployment Rate Falls to 4.6%
Federal Reserve is likely on track to raise interest rates later in December
By JEFFREY SPARSHOTT
Updated Dec. 2, 2016 9:53 a.m. ET
U.S. Nonfarm Payrolls Rose 178,000 in November; Unemployment Rate Falls to 4.6% - WSJ
Trump will be taking over a pretty strong economy.
Though part of the unemployment fall is Boomers dropping out of the Workforce: a demographic problem that really isn't solvable, at least by mass immigration of low wagers.
And why "4%" growth isn't likely without counterproductive hyper-stimulus.
U.S. Nonfarm Payrolls Rose 178,000 in November; Unemployment Rate Falls to 4.6%
Federal Reserve is likely on track to raise interest rates later in December
By JEFFREY SPARSHOTT
Updated Dec. 2, 2016 9:53 a.m. ET
U.S. Nonfarm Payrolls Rose 178,000 in November; Unemployment Rate Falls to 4.6% - WSJ
WASHINGTON—U.S. employers hired at a steady clip in November while the unemployment rate fell to the lowest level in nine years, signs of enduring labor-market growth that will likely leave Federal Reserve officials on track to raise interest rates later this month.
Nonfarm payrolls rose by a seasonally adjusted 178,000 in November from the prior month, the Labor Department said Friday. September’s nonfarm payrolls were revised up to a gain of 208,000 and October’s tally down to 142,000, a net decrease of 2,000.
The unemployment rate dropped to 4.6% last month from 4.9% in October as some people found jobs while even more dropped out of the workforce. At 4.6%, the headline figure is the lowest since August 2007.
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Average hourly earnings for private-sector workers declined 3 cents from October, or 0.1%, to $25.89 in November.
“This should prove temporary, as more reliable wage measures have drifted higher in response to growing worker shortages,” said Sal Guatieri, senior economist at BMO Capital Markets.
Indeed, wage gains had been accelerating this year as competition for workers intensified. In November, earnings were up 2.5% from a year earlier, a small step down from October’s 2.8%, which was the strongest annual wage growth since June 2009.
The unemployment rate, meanwhile, reflected mixed underlying trends.
More people found jobs. But more than 400,000 Americans dropped out of the labor force last month, likely a reflection of an aging workforce as well as some younger workers either giving up, going to school or staying home to care for dependents.
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