Strong Job Growth Seen in November

By Toni Vranjes

December 8, 2017

Payrolls rose more than expected last month, with 228,000 new jobs tallied.

Growth occurred in professional and business services, which added 46,000 jobs; in manufacturing, with 31,000 jobs; and health care, which gained 30,000.

According to a Reuters report, economists expected job growth to be around 200,000 in November.

In an analysis, economist Diane Swonk of DS Economics noted that there’s been a hiring shift in professional services.

She wrote: “Gains in health care and professional hires were concentrated in low-wage areas, which include support staff and non-doctor health care providers. That marks a shift from earlier in the year when much of the hiring in professional services was for new college graduates who are higher on the wage scale.”

Meanwhile, the unemployment rate remained at 4.1 percent, and wages increased by 5 cents.

Tags: , , ,

Leave a Reply

(required)

(required)