November Jobs Report: Only 155K Jobs Added, But Unemployment Remained at 3.7%
Stock market responded positively Friday morning.
Economists expected 198,000 in November, but the economy only added 155,000. While expectations fell short, there’s some positivity within the report and stocks traded higher on Friday morning.
Experts told The Wall Street Journal that fears of a recession may have been overblown:
Friday’s jobs report shows that the market’s volatility and lingering uncertainty over the U.S. and China’s trade relationship hasn’t stopped businesses from hiring workers, said Chris Rupkey, chief financial economist and managing director at MUFG, in an email.
“This is the last monthly jobs report for this year and makes us more confident that 2019 will continue this long expansion from the recession,” Mr. Rupkey said. “The reality check is that jobs have never been so available, at least not in decades.”
The report has also eased worries about inflation:
Although the increase in jobs last month were short of estimates, some experts say the report still paints a picture of a U.S. economy that is humming.
Evidence of stronger inflation has renewed fears that the Federal Reserve will be forced to speed up interest-rate increases to fight off an overheating economy, but wages remained steady in November, easing inflation concerns.
“The key to these reports and their impact on the Fed is inflation, and while wages are continuing to show some strength I don’t think we’re hearing any alarm bells on that front,” Mike Loewengart, vice president of investment strategy at E*TRADE Financial Corporation, said in a note.
The unemployment rate remained steady at 3.7%, but the numbers in this area continue to slide down when divided among race and sex. The November numbers for unemployment among black men tied the “lowest reading on record.”
The less than expected jobs didn’t affect the number of jobs gained in 2018. This past year, jobs have grown by 1.7%.
Wages went up by 6 cents to $27.35. In 2018, wages have gone up a total of 81 cents (3.1%). However, weekly wages went down to 2.8% after it hit 3.4% in October.
Job participation remained at 62.9%. Areas that showed the most growth are the healthcare and manufacturing sectors:
The same sectors that have led hiring throughout the year continued to stand out last month, with health-care employers adding 32,000 jobs and manufacturers adding 27,000.
Transportation and warehousing companies and the professional and business services sector were also bright spots, while many other areas including mining and construction showed little change.
Those areas that slowed down a bit, including leisure and hospitality, could have been doing investors a favor. So far, analysts are largely saying today’s report is keeping expectations for a less aggressive Fed moving forward in tact.
Unfortunately, November is the worst month since March for construction. That sector only added 5,000 jobs. One expert said it’s due to a drop in home sales this fall.
Earlier this week, ADP Research Institute, a payroll processing company, reported that the private sector added 179,000 jobs. While it’s more than the Labor Department’s numbers, it’s still lower than the ADP number in October by 21%. The Washington Examiner stated that “Wall Street typically follows ADP’s figures closely, viewing them as a potential indicator of the Labor Department’s broader assessment.”
That looks to be the case because the stock market opened up to better numbers:
The Dow Jones Industrial Average rose 146 points, while the S&P 500 gained 0.4 percent. The Nasdaq Composite climbed 0.2 percent.
[Featured image via YouTube]
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“It was challenging for me coming from the disciplined, highly process-oriented ExxonMobil Corporation to go to work for a man who is pretty undisciplined, doesn’t — doesn’t like to read, doesn’t read briefing reports, doesn’t — doesn’t like to get into the details of a lot of things but rather just kind of says, look, this is what I believe and you can try to convince me otherwise, but most of the time you’re not going to do that.”…
“When the president would say, ‘Here’s what I want to do, and here’s how I want to do it,’ and I’d have to say to him, ‘Well, Mr. President, I understand what you want to do but you can’t do it that way. It violates the law, it violates the treaty, you know,’” Tillerson explained.
“I didn’t know how to conduct my affairs with him any other way than in a very straightforward fashion. And I think he grew tired of me being the guy every day that told him ‘You can’t do that, and let’s talk about what we can do.’”
–Rex Tillerson
There’s a downward spiral. It never goes in just one direction, as profit-taking kicks in. But there is a trend. Read the trend.
You posted this here in a thread about jobs numbers because???
Could it be that, since prof closed the Forum where you used to post your #NeverTrumptard BS, you have decided to try a workaround? Or is there some arcane relationship to jobs numbers?
One of the rare times you have been correct was in calling Tillerson a bad, bad choice.
But now that Tillerson is running his mouth about Trump, you just love him.
Trump Derangement Syndrome. “Ragspierre”.
What a hypocrite.
No, Prog cult follower. I don’t “love” or hate Tillerson.
I listen. And, of course, he’s right. We can know that by simply letting in the reality of who and what Duh Donald is.
It’s what Americans do, instead of what you do.
Progy:
“And, of course, he’s right.”
All because you have the deep Trump hatred. You’re not smart enough to know your sick.
I listen. And, of course, he’s right. We can know that by simply letting in the reality of who and what Duh Donald is.
It’s what Americans do, instead of what you do.
“I listen.”
Of this there is no doubt. You’ll listen to any halfwit as long as they are lying about Trump.
There is absolutely nothing American about what you do, zero. It is in service to the commie hustlers. You are aligned with the
communistdemocrat party 100%.No, lying T-rump cultist. I listen to lots of viewpoints. It’s called being an American, a thing you ceased to be long ago.
You support the anti – American progs at every turn.
Evil.
No. I retain the American trait of being able to criticize ANYBODY on rational predicates.
You not only CANNOT, you cannot countenance anyone critiquing your cult leader.
All this is just another example.
Rags, this ridiculous back and forth has been going on for two days, and that’s long enough for you to exercise your imagined “right” to post vitriolic comments on this blog. If you can manage to criticize the president without attacking other LI readers, that’s fine. No one cares about that.
This has nothing to do with what either you or Barry is saying about the president. It has to do with the spammy, trolling, rude, and ad hominem quality of your offerings (both of you) as directed at each other. It’s really that simple. And yes, I mean it.
I just made the point above. There’s nothing wrong with that. Nothing whatsoever. There’s nothing “vitriolic” about what I said. It’s apparent.
This is another of your posts that belie a clear prejudice on your part since boarding the T-rump train.
You may not be aware of this, Rags, but calling someone a “commie” because you imagine that LI readers will and referring to LI readers as “T-rump cultists” is vitriolic. That is why I removed it.
I will remove all other such posts, so get your fingers ready (you type and copy and paste, and I one-click it away. It’s fun. Try it.)
You’re confused, as often in the past.
You might try reading. Do you deny that there are T-rump cultists? How would you identify them?
Would they be posters who not only COULD NOT criticize Mr. Establishment, but could not tolerate objective criticism?
Of course I don’t agree that Trump supporters are cultists, and I also disagree with those who use “cultists” to refer to NeverTrumpers. A cult is a very specific thing, and the loose use of the term is galling to me. People who don’t agree with you are not “cultists” or “terrorists” or “racists” or blah blah blah. The ridiculous hyperbole–on both sides–is a real turn-off to thinking people, Rags. I’m surprised you don’t get that.
I don’t care if you criticize Trump and his policies, and no one else does, either. The problem arises when you can’t stay rationale and root your points in fact. The irrational mud-slinging and name-calling overshadows whatever point you think you are making.
Read how people respond to you when you write objectively vs. how they do when you start attacking people rather than ideas. It’s clear as day that a rational point wins thumbs up and positive feedback, while hyperbolic hysterical name-calling earns down thumbs and sharp retorts. You can imagine that’s about the president all day long, but the evidence speaks for itself. You are not “attacked” because you dislike the president or his policies.
Test my theory, stop attacking people on a personal level and just stick to objective facts and opinion about the president and his policies.
I feel sorry for you. There WERE Obama cultists in your world.
Now, you’re sick enough to prohibit the notion of T-rump cultists when they are so manifest on this site.
Cults of personality are part of our sick world, and you’re not honest enough to admit it.
They are not hard to identify. Unlike regular Americans, they can’t allow any objective critique of their cult leader. Just like Obama cultists.
Rags, seriously? I think the only time I referred to “Obama cultists” was in regard to the Obama “mmm mmm” song because it was VERY cultish. Cults make children learn and recite songs deifying their leader. That’s part of what a cult IS.
This is going nowhere. Again. You know the rules; I will enforce them. The end.
That’s just MORE of your dishonesty.
Kids are NOT “cultists”. They are kids RESPONDING to cultists.
You have pristine examples of cultists here, and you won’t show the guts to recognize them, while doing the “I’m neutral” dance.
YOU have claimed the ability to criticize Duh Donald. You KNOW that would get you slimed by the cultists apparent on this thread.
Why the dishonesty?
Dude, did you even read my post? Where do I call the kids cultists? Did you miss this: “Cults make children learn and recite songs deifying their leader. That’s part of what a cult IS.”? Of course you did. Can you even comprehend the written word anymore, Rags?
This isn’t about me, Rags, nice try, though. Attack our readers, and I will remove your comments. Attack our president, and your comments will stand. It’s not hard.
Attack our president and then toss in some vitriol directed at our readers, and I will remove it because of the vitriol directed at our readers. The reason will be the same: attacking our readers. Try it out, attack Trump and see what happens to your comments.
No one cares what you think of Trump, Rags. Really. Really, really.
I read your post more closely then you…by your own admission…read mine.
Read VaPigman’s post. Then read “Barry”‘s posts. They are statements of cultism. They CANNOT tolerate the least critique of their cult god. They’ll tell ANY lie to slime the opposition.
They CAN’T just let it go by. They are compulsively driven to call me names and attack me personally, and you can’t summon the integrity to note it.
That’s simply not true, Rags. Neither VAGentleman nor Barry have a problem with legit criticism of Trump; you are confused because you keep attacking them as people rather than focusing on the president and his policies. When you call people names, they are going to respond in kind. You hate Trump and can hate him all day long, but projecting that hate onto his supporters is unwise and, frankly, silly and useless. It’s up to you if you see their response to your personal attacks as the retaliatory rebuttal it is or as some sort of cultish worship of a president who will be gone in two years or maybe, at most, six. You’re old enough to know that’s an eyeblink.
I said that I will remove Barry’s ad hominem posts and any others who might chime in on “his” side, so your allegation that I don’t note that it goes both ways is specious.
Maybe this has gone on so long, with all the back and forth, that we can’t get to the root of the problem. Here’s the thing, though, if you continue to be uncivil and ungentlemanly, they will, too. So stop it. Ignore them, they will ignore you or have their own posts removed. Again, it’s not hard.
Get your act together, Rags. People don’t like YOU, and that has nothing to do with you assessment of Trump. Stick to critiquing Trump and his policies, and you’re golden. Call someone a cultist or whatever, and you not only undermine your own argument but earn your post a spam. Easy-peasy.
You’re completely delusional.
Read my first post. Read the responses from the T-rump cultists here.
They ARE NOT rational. They ARE ad hominem personal attacks without the LEAST attempt at a defense of the object of their adoration.
Tillerson said a LOT of things that were astute and truthful. The captains of industry recognize those things, and a reacting to the reality of the BIG GOVERNMENT machinations of Duh Donald accordingly.
It WILL get worse.
Oh stop it, Rags. Yeah, they are commenting on your perceived TDS. So what? You’re not better than they are? You can’t shrug it off? You have to dive into the dirt, too?
How far back do we go, Rags? The first time you attacked an LI reader for supporting Trump back in . . . what? 2016? Just stop. You are NOT the victim here, and no one on earth thinks you are (even, I would wager, you don’t believe that). Suck it up and stop being nasty to people, ignore them when their held-over outrage from your last attack makes them respond unnicely, and state your case.
Honestly, I’m not even sure I get your point about Trump anymore; it’s lost in reams of nastiness and uncouth unseemliness. I’m pretty sure if you could get to the point about Trump and his admin I might agree you have a point. But who knows? All you seem to do is berate people, bash them with childish and unimaginative labels, and pretty much kill your own point (whatever it was).
Meanwhile, no one else will be allowed to attack you out of the blue, either. That’s just hitting low-hanging fruit at this point and is beyond pointless. You’ve raised many a hackle here, Rags, and only you can fix it. Well, we can, but we don’t want to resort to that.
And there you go.
Unable to refute what’s so plainly in front of you, you dive for cover in bullshit “history”.
First you assail me because I counter-attack when attacked.
Then you resort to “be bigger” crap when you can’t refute what is so obvious, and which you TRIED to deny.
Again, I will note for the record that I can allow T-rump cultist to wallow in their cult without response from me.
They CANNOT abide ANY objective criticism of their cult leader.
Rags, when you’re in a hole, stop digging. I sincerely and from the bottom of heart don’t care what you think about . . . anything. And yes, that includes Trump.
If you can manage to post about Trump without attacking our readers, great! If not, your post is gone. I am so over ALL of this, so this includes snide attacks on and references to Rags. Gone. Find a meaningful way to fill your days that doesn’t include spamming LI with ridiculous and relentless nastiness.
My message is clear: stop being a rude, obnoxious troll, Rags. To everyone else: stop feeding/being the troll or your posts will be removed. That’s it. I’m done. The end.
…and yet your don’t have the courage to leave my posts in response to your ignorant, non-reading bullshit up.
Disgusting and pitiful.
We’ve just about reached full employment so this may be a sign that business can’t find all the workers they need, not people being unable to find jobs.
Also, the ACA and it’s high premiums keeps employers from hiring many people full time.
Say, isnt that the same number of jobs created by the man child through his entire 8 year reign of error?
I wonder how many couples have calculated the value of a stay-at-home wife/mother or husband/father, and decided the value of an additional taxable income is below the former.
You may want to check those stock market figures–the Dow is currently down about 600. It hasn’t been a good week.
I’m so old that I remember when it was common wisdom among conservatives that no POTUS “creates” jobs (outside of expanding the administrative state). The VERY best they can do is help to create a good climate for markets to do their “magic”…mostly get out of the flucking way…
That’s all.
As I’ve said for about a decade, the WORST thing a POTUS can do is generate uncertainty. I’ve said that Barracula did it like a demon cotton-candy machine in a Steven King story. Now we have Duh Donald playing the same role.
The market…which includes you and I…will respond.
BIG GOVERNMENT ruins. T-rump is a rightist Progressive.
And Mark Levin who you told us we should all listen to calls Trump the most effective conservative of the last 50 years.
The uncertainty is generated by the global con artists and statists trying to damage Trump. You’re one of them.
I recommend you listen to a lot of people, and certainly not solely to Levin, you lying Prog.
You might want to refer to his comments on tariffs.
Uncertainty in business decisions is generated by BIG GOVERNMENT screwing with entire economies. You are a supporter. And a cult follower.
Mark Levin, who you recommended we listen to, says Trump is the most effective conservative president in 50 years.
Levin is smarter than you.
“BIG GOVERNMENT” was on the scene way before Trump and yes the screw with entire economies. Nothing new there proggy.
The cult is the neverTrumpers. You’re one of their sickest followers.
“The uncertainty is generated by the global con artists and statists…”
Or your cult leader, with you in support.
Oddly, I don’t recall you peeping up about my same observation about that other statist and con artist, Barracula.
You’re a lying cult worshiper, and it’s obvious as hell.
“Oddly, I don’t recall…”
You’re not smart enough to recall much of what you said or any response to it.
Mark Levin, one of your preferred constitutionalists, says Trump is the most effective conservative president in 50 years.
You’re a lying Trump Derangement cult member, and it’s obvious as hell.
You’ll lie about anything. As here.
Anyone who has read up on Duh Donald knows he’s NOT a “conservative”. He has promoted some right-Progressive stuff since his campaign conversion from being a pure NE Progressive.
Only an idiot T-rump sucking cultist would be fooled by that.
He’s a BIG GOVERNMENT Prog. You know it, and you’ll lie and excuse it because you’re the same.
Oh, and “Mark Levin”, you lying, T-rump-sucking Prog.
“Only an idiot T-rump sucking cultist would be fooled by that.”
So Mark Levin is a “idiot T-rump sucking cultist” then.
Funny how you just love them when they speak ill of Trump, but as soon as they wake up and see reality, you start calling them names.
You are simply anti-American, working for the progs that wish to destroy freedom and liberty.
You call everyone a liar, while lying constantly. Reminds me of the progs.
And this is it. You are both posting the same thing over and over, just getting more rude along the way. Further posts along these lines will be removed.
If either of you have something new to say on the subject of the post, fine. I’m sure we’d all like to hear it . . . without the name-calling and disparagement of another LI reader. Otherwise, Rags and Barry, consider these discussion threads on this post closed. And that goes for anyone jumping in to add insult to insult. 😉
Do you think he has kept his promises? Has he achieved his goals?
No.
He hasn’t?
No. His chief promises were that he would build the wall, de-fund planned parenthood, and repeal Obamacare, and he hasn’t done any of those things. There are a lot of reasons for that, but since I finished writing the book, I’ve come to believe that Trump’s role is not as a conventional president who promises to get certain things achieved to the Congress and then does. I don’t think he’s capable. I don’t think he’s capable of sustained focus. I don’t think he understands the system. I don’t think the Congress is on his side. I don’t think his own agencies support him. He’s not going to do that.
I think Trump’s role is to begin the conversation about what actually matters. We were not having any conversation about immigration before Trump arrived in Washington. People were bothered about it in different places in the country. It’s a huge country, but that was not a staple of political debate at all. Trump asked basic questions like’ “Why don’t our borders work?” “Why should we sign a trade agreement and let the other side cheat?” Or my favorite of all, “What’s the point of NATO?” The point of NATO was to keep the Soviets from invading western Europe but they haven’t existed in 27 years, so what is the point? These are obvious questions that no one could answer.
Apart from asking these very important questions has he really achieved nothing?
Not much. Not much. Much less than he should have. I’ve come to believe he’s not capable of it.
Why should he be not capable?
Because the legislative process in this country by design is highly complex, and it’s designed to be complex as a way of diffusing power, of course, because the people who framed our Constitution, founded our country, were worried about concentrations of power. They balanced it among the three branches as you know and they made it very hard to make legislation. In order to do it you really have to understand how it works and you have to be very focused on getting it done, and he knows very little about the legislative process, hasn’t learned anything, hasn’t and surrounded himself with people that can get it done, hasn’t done all the things you need to do so. It’s mostly his fault that he hasn’t achieved those things. I’m not in charge of Trump.
–Tucker Carlson
Which tracks nicely with what Tillerson said.
People are waking up.
“I think Trump’s role is to begin the conversation about what actually matters. We were not having any conversation about immigration before Trump arrived in Washington.”
THAT is Carlson’s ignorance…or perfidy…showing. It’s too sadly common.
As an example, Jonah Goldberg was militating for a border barrier OVER ten years before Duh Donald “arrived”. When T-rump was donating to and supporting Schumer and Pelosi.