The economy added 228,000 new payroll jobs and unemployment held at 4.1 percent in November, the Bureau of Labor Statistics reported Friday.
Job creation easily exceeded forecasters’ expectations, which were for the country to 190,000 new jobs as the Texas and Florida economies continued to recover from the hurricanes that made September the worst jobs month in years.
The strong report suggests that commerce remains resilient nearly nine years into the recovery. Hispanic unemployment hit a record low of 4.7 percent as the employment gains continued to mount across a range of industries.
With November’s numbers in and revisions to the previous two months’ reports, the past three months have averaged 170,000 new jobs. Although a slower pace than the catch-up job growth of recent years, that is well more than the roughly 50,000 to 100,000 jobs needed each month to keep unemployment stable.
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Economy beat expectations with 228,000 new jobs, unemployment held at 4.1 percent in November https://t.co/YNDBbNHmWc pic.twitter.com/VunMVkiq30
— Washington Examiner (@dcexaminer) December 8, 2017
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