Report | United States Employment Update - December 2017
Monthly employment growth surpassed the 200,000-mark for a second consecutive month in November, adding 228,000 jobs and countering hurricane-related pauses earlier in the year. Importantly, job growth is still taking place faster than the labor force is capable of expanding and with the participation rate not increasing, placing pressure on employers in primary, secondary and tertiary markets to expand their headcount. Employment and labor force expansion are now trending near-exact alignment, resulting in an environment in which job creation will only be able to match the number of new entrants into the workforce. With inflation now at 2.0 percent and job growth holding steady, a rate hike from the Federal Reserve is seemingly certain. Although wage growth has not grown as expected, labor-market and other economic indicators are showing broadly confident expectations of the economy heading into 2018.
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