64K New Jobs Added in November – RedState

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64K New Jobs Added in November – RedState

The November jobs report is out, again slightly delayed due to Schumer’s shutdown. Jobs created were higher than initial estimates, coming in at 64,000 new jobs, well above the forecast number of 50,000. This is good news.





The Fox report says:

The November jobs report was just released moments ago, the United States added 64,000 jobs last month, which was better than the forecast of 50,000. The unemployment rate also jumped, more than expected, to 4.6 percent. This is the highest level since September 2021. This data was delayed due to the government shutdown.

The activity rate remains generally stable, with a slight decline in recent months. So the news is mixed, but job creation is always good news.


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What’s interesting here is that the healthcare field is responsible for the majority of new jobs.

Establishment figures showed that most of November’s gains came from a familiar source: The health care sector added 46,000 jobs, accounting for more than 70% of the total net increase. Construction increased by 28,000, while welfare contributed 18,000.

In contrast, the transportation and warehousing sector lost 18,000 jobs, part of a continuing trend of job losses in the sector. Leisure and hospitality also showed a loss of 12,000 people.





Health care is expected to remain a growing field for some time to come as the U.S. population, like that of most developed countries, ages. A career in medicine or nursing would be an excellent choice for any young person looking for a lucrative career – at least, unless Democrats regain control of the federal government and adopt a far-fetched socialized medicine agenda.

There was other good news:

Average hourly wages rose just 0.1% for the month, below the 0.3% estimate, and were up 3.5% from a year ago, the smallest annual gain since May 2021.

The 0.1 percentage point increase in the unemployment rate is largely due to growth in the labor force.

And:

Separately, the Commerce Department announced Tuesday that retail sales remained stable in September, compared to a forecast of an increase of 0.1%, according to figures adjusted for seasonality but not for inflation. Excluding automobiles, however, sales rose 0.4%, better than the 0.2% estimate.

A sort of mixture, then.

A country’s economy, especially one the size of the U.S. economy, doesn’t turn around on a dime. Some of us baby boomers remember the Nixon/Ford/Carter economy and how it took the Reagan administration almost two years to untangle that mess. It could well be the same thing here. In the early 1980s, the Fed raised interest rates and kept them high to suppress inflation; By the time President Reagan was running for a second term, it was “morning in America” ​​and we all know what happened in the 1984 election. The same thing may happen here – or not. But for now, we can look at the country’s economic situation and honestly say that it is improving. Billions of dollars of new investment are flowing into America’s manufacturing sector, and they will come online in the next 12 to 24 months.





We might like the economy to improve faster, but it is improving.


Editor’s note: Thanks to President Trump’s leadership and bold policies, the U.S. economy is back on track.

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