Report | United States Employment Update - December 2016
The U.S. labor market saw 178,000 net new jobs created in November, down from 2015 and early 2016 levels but consistent with growth in recent months. At the same time, unemployment plunged by 30 basis points to 4.6 percent, its lowest figure since August 2007. Tightness in the labor market as a result of consistent, albeit slowing, growth and job growth occurring faster than the labor force can expand is putting upward pressure on wage growth, while job openings at near-record highs of 5.5 million indicate the desire from employers to hire. As slack continues to thin and inflation shows signs of rebounding, we expect that an interest rate hike is imminent from the Federal Reserve.
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