Employers added 228,000 jobs in November, largely in the professional and business service and health care sectors, according to the latest report from the Labor Department.
The unemployment rate, which measures those looking for a job who have not yet found one, remained unchanged, at 4.1 percent.
And overall, job growth is starting to slow. “We are experiencing an extraordinarily long period of job growth that began in October of 2010,” said Betsey Stevenson, former member of the Council of Economic Advisers under President Barack Obama. “We have one month left to go, but it looks like job growth slowed a bit in 2017.” Given the low unemployment rate, that’s not a surprise, Stevenson said.
The true winners in this long stretch of job growth: those with less education.
She said over the past year, of the 2.1 million jobs added:
The unemployment rate, which measures those looking for a job who have not yet found one, remained unchanged, at 4.1 percent.
And overall, job growth is starting to slow. “We are experiencing an extraordinarily long period of job growth that began in October of 2010,” said Betsey Stevenson, former member of the Council of Economic Advisers under President Barack Obama. “We have one month left to go, but it looks like job growth slowed a bit in 2017.” Given the low unemployment rate, that’s not a surprise, Stevenson said.
The true winners in this long stretch of job growth: those with less education.
She said over the past year, of the 2.1 million jobs added:
- 1.6 million were private service providing jobs
- A quarter of all new jobs were professional and business services — consulting, accounting, architecture, engineering and other administrative services
- Education and health services added about a half million jobs
But we did see some demand for U.S.-made goods, Hamrick said. The report showed 31,000 jobs added in manufacturing last month, and overall the industry has been up nearly 200,000 over the past 12 months. Construction also saw growth, likely in part from reconstruction and recovery from flooding and hurricane damage.
The biggest question for December: How do you spark better wage growth? “Trump’s tax cuts will play into the debate, but they won’t solve the riddle,” Bartholomew said.
https://www.pbs.org/newshour/econom...embers-jobs-report-means-for-american-workers
