U.S. job growth strong in November; wages rise

[groundloop]

Source: Reuters

U.S. employers hired more workers than expected in November and increased wages despite mounting worries of a recession, but that will probably not stop the Federal Reserve from slowing the pace of its interest rate hikes starting this month.

The Labor Department's closely watched employment report on Friday also showed about 186,000 people left the labor force last month, keeping the unemployment rate steady at 3.7%. Labor market tightness and strength keeps the Fed on its monetary policy tightening path at least through the first half of 2023.

Fed Chair Jerome Powell said on Wednesday the U.S. central bank could scale back the pace of its rate increases "as soon as December." Fed officials meet on Dec. 13 and 14.

[snip]

Nonfarm payrolls increased by 263,000 jobs last month. Data for October was revised higher to show payrolls rising 284,000 instead of 261,000 as previously reported.

Read more: https://www.reuters.com/markets/us/us-job-growth-beats-expectations-unemployment-rate-steady-37-2022-12-02/

[PSPS]

1. LOL. "mounting worries of a recession"

The media and its pundits keep pounding the "recession" canard as hard as they can, although they seem to have let up just a little after the mid-terms when its desired effect on the election is over. All actual, real, serious economists (i.e., not someone who makes their living being a "talking head" ) know that you can't have a recession and have low unemployment at the same time.

[IronLionZion]

2. Republicans want a recession so badly

because
1. Blame Biden/Dems in 2024
2. They love cheap desperate labor for service jobs
3. Blaming foreigners for stealing jobs doesn't work as well during labor shortage.

[Lasher]

3. Locking...

LBN duplicate. Please continue discussion in this thread.

[LetMyPeopleVote]

4. This was a record fast recovery from a recession.

Link to tweet

Link to tweet

[Yo_Mama_Been_Loggin]

5. Thank you Dark Brandon