Job gains slow, but econ­omy ex­pand­ing

Albuquerque Journal - - BUSINESS -

WASH­ING­TON — U.S. em­ploy­ers added 155,000 jobs in Novem­ber, a slow­down from re­cent months but enough to sug­gest that the econ­omy is ex­pand­ing at a solid pace de­spite sharp gy­ra­tions in the stock mar­ket.

The La­bor Depart­ment said Fri­day that the un­em­ploy­ment rate re­mained 3.7 per­cent, nearly a fivedecade low, for the third straight month. Av­er­age hourly pay rose 3.1 per­cent from a year ago, match­ing the pre­vi­ous month’s fig­ure, which was the best since 2009.

The econ­omy is ex­pand­ing at a healthy pace, but ris­ing trade ten­sions be­tween the U.S. and China, on­go­ing in­ter­est rate in­creases by the Fed­eral Re­serve and weak­en­ing global growth have roiled fi­nan­cial mar­kets. An­a­lysts ex­pect growth to slow but re­main solid in 2019 as the im­pact of last year’s tax cuts fade.

The jobs fig­ure was less than many economists fore­cast, but few saw the re­port as a sign of a broader slow­down.

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