Report | United States Employment Update - December 2015
November's 211,000 net new jobs represented the second consecutive month of rebound after a lackluster mid-2015 that delayed the Federal Reserve's anticipated interest rate hike, but which is now looking increasingly likely. An increase in the civilian labor market and, in turn, more people looking for work kept the unemployment rate unchanged at 5.0 percent as well as boosting both the labor force participation rate and total unemployment by 10 basis points. Unlike most months, professional and business services (PBS) was not the monthly leader in November due to losses in temporary help services, but rather a collection of construction, education, health, leisure, hospitality and retail contributed most to growth. Falling energy prices continue to result in contractions in mining and logging, although low fuel prices are leading to minimal inflation at the same time as wages are up 2.3 percent year-on-year, which will boost spending and GDP growth in the coming quarters.
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