U.S. jobs numbers soared again in November, providing markets another boost, and getting unemployment to match a 50-year-low of just 3.5 per cent.
The Trump economy was lauded on the War Room: Impeachment show on Friday morning by incoming White House Senior Adviser for Strategy Tony Sayegh.
Sayegh also made clear the numbers could skyrocket again if Speaker Nancy Pelosi and the Democrats abandoned their impeachment effort and focused on passing USMCA – the new U.S.-Canada-Mexico trade deal negotiated by President Trump over a year ago but still not passed by an impeachment-obsessed Congress.
hate him or like him–best number in 50 years and no inflation to speak of? 50 years ago –stagflation
— Jim Cramer (@jimcramer) December 6, 2019
You can listen to the War Room: Impeachment podcast on iTunes, Stitcher, Spotify, Google Play, and Soundcloud.
The Wall Street Journal reports:
Employers added 266,000 jobs in November and unemployment matched a 50-year low of 3.5%, signs the U.S. economy is withstanding a global slowdown.
Wages advanced 3.1% from a year earlier, an improvement from the prior month’s pace.
U.S. employers have picked up the pace of hiring. Jobs have grown an average 205,000 per month in the three months through November. That compares with average monthly job growth of 223,000 in 2018.
Hiring was strong in health care, restaurants and transportation jobs. In November, manufacturers added 54,000 jobs, 41,000 of which were in auto manufacturing. General Motors workers, who were on strike in October, helped drive the bounceback.
The stronger pace of hiring could help juice up the broader U.S. economy, which is still expanding but at a slower pace than last year.