• Home
  • Contact Us!
  • Privacy Policy

Radio Metta

  • Home
  • Business
  • Education
  • Health
  • Home Deco
  • News
  • Real Estate
  • Technology
  • Contact Us!
  • Privacy Policy
Home» News»US unemployment rate falls to nine-year low

US unemployment rate falls to nine-year low

Saheli 02 Dec 2016 News Comments Off on US unemployment rate falls to nine-year low 490 Views

Student job fair

The US unemployment rate fell to a nine-year low in November, adding to expectations that US interest rates will rise later this month.

Figures from the Labor Department showed the US economy created 178,000 jobs in November, while the jobless rate fell to 4.6% from 4.9% in October.

The data adds to recent evidence of healthy growth in the economy, although wage growth was weaker than expected.

Most analysts think the Federal Reserve will raise rates at its next meeting.

“This was the last hurdle on the path to a December hike, and it has been cleared convincingly,” said Luke Bartholomew, investment manager at Aberdeen Asset Management.

“It is now incredibly hard to imagine what would stop the Fed from going [for a rate rise].”

Table of Contents

Toggle
  • Weaker earnings
  • Analysis: Andrew Walker, BBC World Service economics correspondent

Weaker earnings

The Federal Reserve will hold its next two-day policy meeting on 13-14 December.

Last month, the chair of the Fed, Janet Yellen, indicated that the US central bank could raise interest rates “relatively soon”, adding that the US economy was “making very good progress”.

Recent figures indicated that the US economy grew at an annual pace of 3.2% in the third quarter of the year.

The US economy has been creating jobs at an average of 180,000 jobs a month this year, although that is down on the average of 229,000 recorded in 2015.

Despite November’s robust jobs figures, earnings grew by less than expected. Average hourly earnings fell 0.1% from the month before, and that reduced the annual increase in wages to 2.5% from 2.8% in October.

The job creation figures for September and October were also revised, with the latest estimates indicating that 2,000 fewer jobs were added in the two months than previously thought.


US welderImage copyrightGETTY IMAGES

Analysis: Andrew Walker, BBC World Service economics correspondent

Before these figures the markets were pretty clear about what they think the Federal Reserve will do when it meets later this month; it will raise interest rates. The jobs numbers have further reinforced that expectation.

It was a pretty robust figure for job creation, well ahead of economists’ estimates of what is needed to keep up with a growing population.

Also striking was a decline of 220,000 in the number who are working part-time for economic reasons. This is another measure of what economists call “slack in the labour market” that the Fed has been watching, because it thinks the unemployment rate doesn’t tell the whole story about job problems. A decline in the number of part-timers suggests some more of the “slack” being taken up.

The marked decline in the unemployment rate is a little misleading. It partly reflects people who are no longer looking for work – they are counted as “not in the labour force” rather than unemployed. That said, this is a rather strong report.

[Source:-BBC]

falls low nine-year rate to unemployment US 2016-12-02
Tags falls low nine-year rate to unemployment US
Facebook Twitter Stumble linkedin Pinterest More

Authors

Posted by : Saheli
Previous Article :

Gambia’s Jammeh loses to Adama Barrow in shock election result

Next Article :

IS group to step up attacks on Europe – Europol

Related Articles

Our testimony regarding the California Journalism Preservation Act to the Judiciary Committee of the California Senate

Our testimony regarding the California Journalism Preservation Act to the Judiciary Committee of the California Senate

admin 24 Mar 2025
The most effective method to Make Your Most memorable Computerized Advertising Effort in Science

The most effective method to Make Your Most memorable Computerized Advertising Effort in Science

admin 29 Nov 2024

Understanding Common Refrigerator Issues: A Quick Guide

admin 22 Nov 2024

Latest Post

Clinical Trial Considerations for Infectious Disease Rapid Diagnostics: From Sample to Result in Record Time
Health

Clinical Trial Considerations for Infectious Disease Rapid Diagnostics: From Sample to Result in Record Time

admin 04 Oct 2025

Michael Kremer on the Andhra Pradesh PAL Study’s evidence of personalized adaptive learning in India

admin 22 Sep 2025
Digital Dermatology with Freedom 360: Skin Cancer Checks and Expert Care for Members
Health

Digital Dermatology with Freedom 360: Skin Cancer Checks and Expert Care for Members

admin 15 Sep 2025
Small, Rural Central California High School Continues To Defy Standardized Education
Education

Small, Rural Central California High School Continues To Defy Standardized Education

admin 12 Sep 2025
Speeches delivered by CEO Sundar Pichai at the White House AI Education Taskforce
Education

Speeches delivered by CEO Sundar Pichai at the White House AI Education Taskforce

admin 08 Sep 2025
How is PSA used to monitor prostate cancer?
Health

How is PSA used to monitor prostate cancer?

admin 01 Sep 2025
The Future of High Performance Networking: Ultra Ethernet Explained
Technology

The Future of High Performance Networking: Ultra Ethernet Explained

admin 28 Aug 2025
October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
  • Home
  • Contact Us!
  • Privacy Policy
Copyright 2016, All Rights Reserved
Magazine Blog News WordPress Theme