The US unemployment rate fell by two tenths in November to 3.7%, as published today by the Bureau of Labor Statistics (BLS).
In this way, the unemployment rate has been lower than expected by analysts, who predicted 3.9%.
In addition, more jobs have also been created than forecasts indicated. Specifically, in November 199,000 more non-agricultural payrolls were signed, compared to the 180,000-185,000 expected by the market. In addition, it represents strong progress compared to October when 150,000 jobs were created. Behind this strength of the US labor market is the impact of the end of the motor workers’ strike.
The US labor market continues to show no signs of weakness and has created employment for 35 consecutive months, despite the fact that the pace of new hiring in November has slowed from the average of 240,000 new jobs in the previous twelve months.
In this sense, the Department of Labor has revised downwards the figure for last September, when 262,000 jobs were created and not the 297,000 initially announced, while it has maintained the figure for October at 150,000 new jobs.
With these revisions, employment in September and October combined is 35,000 less than previously reported.
Source: Larepublica
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