Great Economic news out this morning, it's a great time for our Country!
Against a consensus forecast of 185K, the economy added a massive 266K jobs in November. In addition, revisions added 41K jobs to the results for prior months. The unemployment rate unexpectedly declined from 3.6% to 3.5%, matching the 50-year low seen in September. Average hourly earnings, an indicator of wage growth, were 3.1% higher than a year ago, down from an annual rate of increase of 3.2% last month, and roughly in line with expectations. Separately, Consumer Sentiment rose to 99.2, well above the consensus of 97.0. The Dow is up 300 points.
Against a consensus forecast of 185K, the economy added a massive 266K jobs in November. In addition, revisions added 41K jobs to the results for prior months. The unemployment rate unexpectedly declined from 3.6% to 3.5%, matching the 50-year low seen in September. Average hourly earnings, an indicator of wage growth, were 3.1% higher than a year ago, down from an annual rate of increase of 3.2% last month, and roughly in line with expectations. Separately, Consumer Sentiment rose to 99.2, well above the consensus of 97.0. The Dow is up 300 points.
