211,000 new jobs were created in November, above the 196K expected, while September and October were revised higher by a total of 29K.
The report also showed that the Unemployment Rate remained at 5%, a 7 year low, which was inline with estimates. Average hourly wage growth rose 0.2%, which was also inline, while year-over-year wage growth ticked down to 2.3% from 2.5%.
What everyone wants to know right now is “Will the FED raise rates later this month?”:
The solid report all but assures a rate hike by the Fed at the two-day meeting on the 15th and 16th. Fed Fund Futures now show a near 80% chance of a hike in the Fed Funds Rate, the rate in which financial institutions lend each other balances held at the Fed on an overnight basis. The Labor Force Participation Rate, or the share of working-age Americans who are employed or at least looking for a job, rose to 62.5% from a near 38-year low of 62.4%. The U6 number, which includes all classes of Unemployed even those considered marginally attached and/or part-time for economic reasons, ticked up to 9.9% from 9.8%.
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