US adds 178K jobs in November, unemployment falls to 4.6%
America’s economy continued to grow in November.
The U.S. economy added 178,000 jobs in November, the Labor Department reported Friday, and the unemployment fell sharply to 4.6% from 4.9% in October.
The rate is the lowest since August 2007.
Unemployment has been at or below 5% for nearly a year as more people have returned to the job market and hiring has maintained momentum.
November was the 74th consecutive month America added jobs. The economy is near “full employment.”
“It’s kind of more of the same,” said Jim O’Sullivan, chief United States economist at High Frequency Economics, according to the New York Times. “There’s been strong growth in employment.”
Wages rose 2.5% in November from a year ago, though that marked a slight slowdown from October.
It’s the first major sign of the economy’s health since the surprise victory of President-elect Donald Trump.