Dramatic Job Growth
A dramatically upward trending green arrow above the word, “JOBS”. On white with drop shadow.

According to the Bureau of Labor Statistics’ October and November Jobs Reports, unemployment remained at its lowest level since 1969 at 3.7%. Here are some other highlights from these reports:

  • Total non-farm payroll employment rose by 250,000 in October and 155,000 in November.
  • Job gains occurred in manufacturing, health care, construction, and transportation and warehousing.
  • Employment in manufacturing rose by 32,000 in October and 27,000 in November.
  • Over the year, manufacturing employment has increased by 288,000.
  • Average hourly earnings for all employees on private non-farm payrolls rose by 6 cents to $27.35 in November.
  • Over the year, average hourly earnings have increased by 81 cents or 3.1%.

Bottom line: the U.S. economy is based on consumer spending, and these reports shows that consumers are growing their purchasing power, a positive indicator for the economy going forward.

Source: Precision Machined Products Association

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