'New Normal' November Jobs Report Not Good

'New Normal' November Jobs Report Not Good

If the US labor market were back at pre-Great Recession levels, this would have been a pretty decent employment report. Net new jobs were up 203,000 last month with gains broadly based, bringing lower unemployment and underemployment rates. November also saw a nice bump in hours worked, which when combined with an increase in average hourly earnings, points to “a robust advance in wage income,” according to RDQ Economics. The firm also adds, “The evidence from the labor market shows that the momentum in the economy was sustained through the period of the government shutdown.” Good stuff all.

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