US ECONOMY:
The US economy added only 210,000 jobs in November, falling over 300,000 jobs short of what economists had forecasted. (1)
This indicates a massive slowing of the job market due to uncertainties about government lockdowns & Covid variants.
Whatever the fed has been doing to stimulate economic growth and to shrink the unemployment rate, thus far it has been ineffective.
The Unemployment Rate is Still at a Seasonal High.
According to the Wall Street Journal, this was the slowest monthly gain since last December. (2)
This is coming as a shock to many economists since November and December are always exceptional months for job growth which is generally credited to the need for seasonal employees because of intensified holiday spending.
"The unemployment rates for adult men and adult women declined to 4.0 percent. The white unemployment rate fell to 3.7 percent and the black unemployment rate fell to 6.7 percent.
The Hispanic unemployment rate declined to 5.2" (3) This according to a Breitbart report.
The unemployment rate among some minorities (including Asians) has hardly moved at all.
Contributor(s)
(1) Carney, John. "Disaster: U.S. Economy Added Just 210,000 Jobs in November." Breitbart News, 12/3/2021, https://www.breitbart.com/economy/2021/12/03/disaster-u-s-economy-added-just-210000-jobs-in-november/
(2) Harrison, David. "U.S. Added Just 210,000 Jobs in November." The Wall Street Journal, 12/3/2021, https://www.wsj.com/articles/november-jobs-report-unemployment-rate-2021-11638480609?mod=hp_lead_pos1
(3) Carney, John. "Disaster: U.S. Economy Added Just 210,000 Jobs in November." Breitbart News, 12/3/2021, https://www.breitbart.com/economy/2021/12/03/disaster-u-s-economy-added-just-210000-jobs-in-november/
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