November Job Growth Lower than Expected
December 7, 2018
November saw 155,000 new jobs, the Labor Department announced today. Economists had forecast an increase of 198,000. The numbers come amid some economists concerns that we are seeing the initial signs of an economic slowdown.
Monthly earnings gains also fell short of expectations, with an increase of 0.2 percent rather than the 0.3 that had been predicted. Average hourly earnings were up 3.1 percent from a year earlier.
One positive note is that overall unemployment held steady at 3.7 percent, the lowest it has been in almost 50 years.