US hiring slowed to 155K jobs, jobless rate stayed 3.7%

Staff Writer

WASHINGTON (AP) — U.S. employers added 155,000 jobs in November, a slowdown from recent months but enough to suggest that the economy is expanding at a solid pace despite sharp gyrations in the stock market.
The Labor Department said Friday that the unemployment rate remained 3.7%, nearly a five-decade low, for the third straight month. Average hourly pay rose 3.1% from a year ago, matching the previous month’s figure, which was the best since 2009.
The economy is expanding at a healthy pace, but rising trade tensions between the U.S. and China, ongoing interest rate increases by the Federal Reserve and weakening global growth have roiled financial markets. Analysts expect growth to slow but remain solid in 2019 as the impact of last year’s tax cuts fade.
The jobs figure was less than many economists forecast, but few saw the report as a sign of a broader slowdown.
“The economy continues to churn out new jobs and reflects the strong underlying business conditions that point to steady, albeit slower job growth and economic activity in 2019,” said Joe Brusuelas, chief economist at consulting firm RSM. “This report strongly implies that a recession is not looming just over the horizon.”...To read more, please refer to our print or online edition.

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