12/11: MetroIntelligence Economic Update by P. DUFFY

November employment rose by 155,000 as unemployment rate remained unchanged at 3.7 percent

Total nonfarm payroll employment increased by 155,000 in November, and the unemployment rate remained unchanged at 3.7 percent. Job gains occurred in health care, in manufacturing, and in transportation and warehousing.




JOLTS:  New hires rose at double the rate of job openings in October

The number of job openings rose 1.7 percent to 7.1 million on the last business day of October.  Over the month, hires rose 3.4 percent up to 5.9 million, and separations dipped 1.5 percent to 5.6 million.



Consumer sentiment remains steady at 97.5 in early December survey

Consumer sentiment was unchanged from last month’s reading and has remained at very favorable levels since the start of 2017. As long as job and income growth remain strong, rising prices and interest rates will not cause substantial cutbacks in spending.


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