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WASHINGTON — November hiring smashed expectations and raised prospects for stronger-than-expected economic growth in 2015, experts said after a solid jobs report from the government Friday.
And, after more than five years of elusive gains, Americans may finally be about to see the benefits of the recovery where it really counts: in their pocketbooks and wallets.
The Labor Department reported Friday that employers added 321,000 jobs in November — a much stronger number than expected — but perhaps even more significant was the biggest gain in average wages since June 2013.
Hourly earnings rose by 0.4 percent in November, double what economists had been expecting even as the number of hours people were working ticked up one-tenth as well. That gain in hourly pay was significantly above the 0.1 percent increase in October, let alone the unchanged number in September.
“Boom. Job reports are rarely ever as strong as today’s numbers,” said Mark Zandi, the chief economist for Moody’s Analytics. “There were big, broad-based job gains, stronger wage growth and more hours worked per week. The job market is in full swing.”
Analysts at Bank of America Merrill Lynch cheered the jobs report with this headline: “Deck the halls...
What a shame for Pubs and their chumps. READ SOMETHING. A PAPER.
WASHINGTON — November hiring smashed expectations and raised prospects for stronger-than-expected economic growth in 2015, experts said after a solid jobs report from the government Friday.
And, after more than five years of elusive gains, Americans may finally be about to see the benefits of the recovery where it really counts: in their pocketbooks and wallets.
The Labor Department reported Friday that employers added 321,000 jobs in November — a much stronger number than expected — but perhaps even more significant was the biggest gain in average wages since June 2013.
Hourly earnings rose by 0.4 percent in November, double what economists had been expecting even as the number of hours people were working ticked up one-tenth as well. That gain in hourly pay was significantly above the 0.1 percent increase in October, let alone the unchanged number in September.
“Boom. Job reports are rarely ever as strong as today’s numbers,” said Mark Zandi, the chief economist for Moody’s Analytics. “There were big, broad-based job gains, stronger wage growth and more hours worked per week. The job market is in full swing.”
Analysts at Bank of America Merrill Lynch cheered the jobs report with this headline: “Deck the halls...
What a shame for Pubs and their chumps. READ SOMETHING. A PAPER.
