Unemployment Hasn't Been This Low in 50 Years

Rate drops to 3.5% as employers add a robust 266K jobs
By Newser Editors,  Newser Staff
Posted Dec 6, 2019 7:50 AM CST
Jobs Report Comes In Strong
Job seekers fill out applications during a job fair at Dolphin Mall in Miami in this file photo.   (AP Photo/Lynne Sladky, File)

The new jobs report is out, and it's a robust one. Employers added 266,000 jobs in November, easily beating estimates of 187,000, reports CNBC. Part of the surge reflects the end of a strike at GM, but the figure still represents the strongest month since January of this year, notes the AP. Dow futures were up more than 150 points on the news. Unemployment dipped to 3.5% from 3.6%, which matches a 50-year low, reports the Wall Street Journal. That essentially means that anyone looking for a job can find one, according to the newspaper. Additionally, wages rose 3.1% from a year ago. "Today’s jobs report should assuage some of the biggest market concerns about the US economy," says Jason Schenker of Prestige Economics. (More jobs report stories.)

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