US Economy Adds 228,000 Jobs in November as Average Hourly Earnings up 2.5%

By Investors Hub/Business Post Nigeria

No fewer than 228,000 jobs were added into the economy of the United States of America in November, latest data released by the country’s Labour Department has revealed.

This figure was more than what observers and analysts had anticipated.

Economists had expected employment to climb by 200,000 jobs compared to the addition of 261,000 jobs originally reported for the previous month.

The report said the unemployment rate came in at 4.1 percent in November, unchanged from October and in line with economist estimates.

Meanwhile, average hourly employee earnings were up by 2.5 percent year-over-year in November, reflecting an acceleration from 2.4 percent in October but below estimates for 2.7 percent growth.

At 10 am ET, the University of Michigan is scheduled to release its preliminary report on consumer sentiment in the month of December. The consumer sentiment index is expected to inch up to 99.9 in December after dipping to 98.5 in November.

The Commerce Department is also due to release its report on wholesale inventories in the month of October at 10 am ET. Wholesale inventories are expected to edge down by 0.1 percent.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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