Report | United States Employment Update - November 2017
October saw 261,000 net new jobs added, a rebound from a weak September hit with two hurricanes and an initially negative employment growth figure. Revisions brought September back to positive territory, however, extending the expansionary streak to 84 consecutive months of growth. Although unemployment has fallen to 4.1 percent, wage growth has yet to meaningfully improve, remaining below the 3.0-percent threshold and with most industries seeing a slowdown the rate of annual earnings growth. The Federal Reserve did not increase interest rates at its most recent meeting, but is expected to do so in December. Inflation is still volatile and job growth is less consistent than in previous months, but falling unemployment and strong sentiment from both businesses and consumers should provide enough confidence for further tightening.
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