November Jobs Report

Financial Review

…Economy adds 155,000 jobs in November. Unemployment rate unchanged at 3.7%. U6 jumps to 7.6%. slightly weak report but not enough to change Fed. Financial Review by Sinclair Noe for 12-07-2018 DOW – 558 = 24,388 SPX – 62 = 2633 NAS -219 = 6969 RUT – 29 = 1448 10 Y – .03 = 2.85% OIL + .86 = 52.35 GOLD + 10.80 = 1249.00 The Bureau of Labor Statistics reported the economy added 155,000 jobs in November, with the unemployment rate unchanged at 3.7 percent. With a modest downward revision to the job growth reported for the prior two months (down 12,000 combined), the average over the last three months was 170,000, a clear slowing from the 204,000-average rate over the last year. Payroll growth in 2018 is still on track to beat the previous year’s average monthly gains of 182,000 positions and could surpass 2016’s average monthly increase of 195,000. What’s more, the economy is on track to produce the most new jobs since 2015. November was the 98th month of job creation in a row, a record. And while 155,000 new jobs missed estimates and was a bit disappointing, it isn’t really a problem. Even if the U.S. were just adding 150,000 jobs a month, it’s a lot more than the country needs to supply everyone entering the labor force with a job: high school and college grads, immigrants, moms returning after an extended absence, retirees looking for side work. Average hourly earnings, ...

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