CNN Reports Big Strong Jobs Greatly Surpassed Expectations
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[CNN Reports Big Strong Jobs Greatly Surpassed Expectations]
U.S. CREATES 266,000 JOBS IN NOV, UNEMPLOYMENT AT 50-YEAR LOW
All right, breaking news, the Labor Department just released the November jobs report and it is a big number. Chief business correspondent, Christine Romans, here with that. Romans.
Christine Romans: Source: LYBIO.net
Hey, guys. A strong number, 266,000 net new jobs. This blows away expectations. We were looking for something more like 180,000.
A couple of things to point out here. October and September also revised higher. So you’ve got some more strength in the fall than we had been hearing from some of the other kinds of data that we watch here. So companies are hiring, and have been hiring at a pretty brisk pace this fall.
The unemployment rate fell to 3.5%. That is still this very, very fit low, 50-year level. A couple of generations of people have not seen this kind of unemployment rate. It continues to be that low.
NOVEMBER JOBS REPORT
PROF & TECH SERVICES
So where are the hiring – where is the hiring? Look at manufacturing. That’s almost entirely GM. GM and a little bit more. All those people coming back from that GM strike, so that’s pushing that number up.
But across the board, in healthcare, 45,000 jobs added there. Over the past year, you guys, 414,000 jobs added in healthcare, all up and down the wage spectrum in healthcare. So this has been a very, very dynamic part of the American economy.
Professional and technical services up 31,000 there. That has also been strong. So whether you’re talking about doctors’ offices or hospitals or office buildings or factories, there was hiring in the period.
MANUFACTURING JOBS GAINS
I want to just zero in
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CNN Reports Big Strong Jobs Greatly Surpassed Expectations. Hey, guys. A strong number, 266,000 net new jobs. This blows away expectations. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.