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| US jobs growth slows dramatically despite record streak | US jobs growth slows dramatically despite record streak |
| (34 minutes later) | |
| America’s record breaking streak of job creation appears to be slowing. The Labor Department announced the US had added 155,000 in November, well below last month’s figures and economists’ forecasts. | America’s record breaking streak of job creation appears to be slowing. The Labor Department announced the US had added 155,000 in November, well below last month’s figures and economists’ forecasts. |
| Despite rapid growth in wages, Trump should be concerned | Larry Elliott | Despite rapid growth in wages, Trump should be concerned | Larry Elliott |
| November was the 98th consecutive month of growth in hiring, the longest streak of jobs growth since records began. But the pace of hiring slowed dramatically last month. The US added 250,000 jobs in October and economists had expected 198,000 new jobs to be added this month. | |
| The unemployment rate remained at 3.7%, a low unseen since 1969, and the US is still adding around 200,000 jobs a month. But some market watchers believe the recovery is running out of steam. | |
| The news came after ADP, the US’s largest payroll supplier, said that jobs growth had probably peaked. According to ADP the private sector added 179,000 jobs in October, well below the 225,000 added in September and lower than economists had forecast. | The news came after ADP, the US’s largest payroll supplier, said that jobs growth had probably peaked. According to ADP the private sector added 179,000 jobs in October, well below the 225,000 added in September and lower than economists had forecast. |
| “Job growth is strong, but has likely peaked,” said Mark Zandi, chief economist at Moody’s Analytics, which produces the figures with ADP. “This month’s report is free of significant weather effects and suggests slowing underlying job creation. With very tight labor markets, and record unfilled positions, businesses will have an increasingly tough time adding to payrolls.” | “Job growth is strong, but has likely peaked,” said Mark Zandi, chief economist at Moody’s Analytics, which produces the figures with ADP. “This month’s report is free of significant weather effects and suggests slowing underlying job creation. With very tight labor markets, and record unfilled positions, businesses will have an increasingly tough time adding to payrolls.” |
| US unemployment and employment data | US unemployment and employment data |
| US economy | US economy |
| news | news |
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