Next month's Beyond the Data Jobs Report will be a more extensive end-of-year recap and will include an extensive review of the labor market with analysis of underlying trends and what to expect in 2018.Next month's Beyond the Data Jobs Report will be a more extensive end-of-year recap and will include an extensive review of the labor market with analysis of underlying trends and what to expect in 2018.
"Overall, today's report supports our view that domestic demand has regained momentum late in the year, setting up the economy for a more upbeat 2018 than we previously anticipated", Duncan said. That follows last month's 1,000 job decline.
The labor force participation rate remained at 62.7 percent in November; the BLS said that the employment-population ratio, which stands at 60.1 percent, has changed little since early 2017. Restaurants and bars, which had showed bigger swings in the prior two months due to the storms, added 18,900 workers in November. That's the biggest gain since November of 2016 when borrowing spiked to a whopping 24 and a half billion dollars.
"That means an abundance of new potential homebuyers in the near future", Yun said. Nonetheless, payroll increases have been slowing the past few years, albeit in orderly fashion, as the labor market tightens.
"Total construction jobs are still well below the pre-recession levels by roughly 20 percent, Yun said". The net gain for September and October after the revisions totaled 3,000 jobs.
Average hourly earnings rose 0.2 percent from the prior month following a revised 0.1 percent drop, the report showed.
As for wages, the agency says, "In November, average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $26.55".
The strong jobs report virtually assures a rate hike by the Federal Reserve next week.