Lots of Good News in the November Jobs Report

1. Better Than Expected November Unemployment Report
2. Employment Gains Improving Across Economic Spectrum
3. Today’s US Business Climate is Near the Best Ever
4. So Why Then Are Average Wages Rising So Slowly?
5. Fed Policy Meeting Today & Tomorrow – Rate Hike Expected

Better Than Expected November Unemployment Report

Last Friday, the Labor Department reported a better than expected 228,000 net new jobs were created in November. The pre-report consensus suggested only around 200,000 new jobs last month. This is yet another indication that the US economy is accelerating as I have suggested often over the last several months.

Change in Jobs

The headline unemployment rate held steady at 4.1%, a 17-year low last month. In the past 12 months, the number of people employed is up 1.87 million. That's why the unemployment rate continues to drop.

Even some usual critics in the mainstream media now admit the economy's underlying shift: "The American job market is the strongest it's been in a decade, and arguably the strongest since 2000,"wrote The New York Times on Friday. The Times is right.

Companies in nearly every sector are reveling in the best opportunities they have seen in years. Improving global growth is giving a lift to manufacturers, which have added jobs for four straight months. Rising incomes and strong consumer confidence helped retailers, whose payrolls grew at the fastest pace since January despite the shadow of rising online sales.