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Jobs picture steady at 3.7 percent unemployment

December 7, 2018

The economy added 155,000 jobs in November, the government announced Friday, continuing a solid trend of growth and leaving the unemployment rate steady at 3.7 percent.

Last month’s jobs increase was down from the 237,000 jobs created in October, but higher than the 119,000 in September, the Bureau of Labor Statistics reported.

The November report also showed a 6-cent rise in hourly wage earnings, continuing a yearlong growth that’s totaled 81 cents, or 3.1 percent.

“This is a solid report as we head into the holiday season, highlighting a year of growth for our country,” said Rep. Kevin Brady, Texas Republican and chairman of the House Ways and Means Committee. “Wages are rising at their fastest pace in a decade for our workers and nearly 2.3 million jobs have been created this year alone the Republican pro-growth agenda is making a real impact for families and individuals across the country.”

The low jobless rate of 3.7 percent which has been steady for the last few months remains a bright spot for the Trump administration.

By contrast, the stock markets, which President Trump had pointed to as symbolic of business confidence, have turned sour this week, nearly wiping out the year’s gains with a massive drop.

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