Another strong jobs report Nov 2023

Politics
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Josh Schafer
Josh Schafer·Reporter
Fri, December 8, 2023 at 8:56 AM EST·3 min read
The unemployment rate unexpectedly fell in November, reflecting signs that the labor market may not be cooling as quickly as many had initially thought.

Data from the Bureau of Labor Statistics released on Friday showed the unemployment rate was 3.7% for the month, down from 3.9% in October. The US economy added 199,000 jobs in November, an uptick from 150,000 the previous month as striking auto workers and Hollywood actors came back to the workforce.

Economists surveyed by Bloomberg expected job gains of 185,000 with unemployment holding steady from the prior month at 3.9%.

Great news ??!!

And this is the best bit I think:

Wages, a closely watched indicator for inflation and a gauge of how much leverage workers have in the labor market, increased 0.4% on a monthly basis and 4.1% over last year; economists had expected wages to rise 0.3% over last month and 4% over last year.

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Wall Street rallying … good day .

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Nice.

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Thanks for starting the thread. These are what good monthly jobs reports should look like. We’re at full employment, and job growth matching population growth and a little more. And wages going up. Catching pace and possibly surpassing inflation. Which is the ultimate goal. We all want Americans making more and paying less to increase family resources/value. So a good report.

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My 401k has never been better

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Same.

Full disclosure - I would have been able to say the same thing four (and eight) years ago.

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Same same

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The fed is trying to slow the economy. Thus the rate hikes the last few years. This may mean we don’t get a rate cut and inflations stays.

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Inflation has been trending down for a while now.

But the fed will be timid in cutting rates as they were slow to raise them in 2020 and were caught behind the eight-ball.

We are not going to see rates at the previous lows for a long long time.

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Good News!!!(???)!!!

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Indeed. I like seeing this as a monthly topic again. Just don’t post that as a title. :slight_smile: Don’t crash the system.

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Employers are hiring people for the Christmas holidays. Mainly, people are having to get a second job just to pay the bills . . . .maybe a third job. That’s nothing to brag about.

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I’m sorry, but do you know what “seasonally adjusted” numbers are? This reminds me of when people would complain about 250,000 gains in jobs reports and then point out that new unemployment claims for the previous week were 260,000 and think that this means we’re in the red in job creation.

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Only 11 short months until election day. Rally hard, cheerleaders. :wink:

image

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So the report is just a lie? Is that the point of your meme?

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I googled to see where he was today. Muhammad Saeed al-Sahhaf, died in 2015. RIP Bob, thanks for the laughs.

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I think he’s still alive actually

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That is what I said.

No need to apologize.

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Seasonal work

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The report is adjusted to account for seasonal work. IOW, they are taken out of the figure.

https://www.bls.gov/cps/seasfaq.htm