The economy is expanding at a healthy pace, but rising trade tensions between the U.S. and China, ongoing interest rate increases by the Federal Reserve and weakening global growth have roiled financial markets.
All told, employers added 155,000 jobs in November. The Labor Department announced this morning that the unemployment rate remained at 3.7%, nearly a five-decade low, for the third straight month. Average hourly pay rose 3.1% from a year ago, matching the previous month’s figure, which was the best since 2009.
Analysts expect growth to slow but remain solid in 2019 as the impact of last year’s tax cuts fade
The jobs figure was less than many economists forecast, but few saw the report as a sign of a broader slowdown.
Black Americans, adult men and those with just a high school diploma made notable gains in the job market in November. The jobless rate for black Americans fell to 5.9% matching a record low hit earlier this year. Meanwhile, the unemployment rate for adult men came in at 3.3%. That’s the lowest level since October 2000.
