The November employment numbers were released last Friday with a stronger than expected increase of 132,000 jobs. The unemployment rate inched up .1% to 4.5%.
The consensus number prior to release was 110,000. Most analysts believe that this shows the economy is marching on at a decent pace, not too strong and not too weak. Most also believe that with these “normal” job numbers the Fed would keep interest rates as they are.
Previous months were revised again with a net gain in September of another 55,000 for a net gain of 203,000 while October was revised down 13,000 for a net gain of 79,000.
Winners:
Professional and business services +43,000
Education and health services +41,000
Leisure and hospitality +31,000
Losers:
Construction -29,000
Manufacturing -15,000
Average hourly earnings were slightly lower from the estimated .3% at .2% to 4.1% for the previous 12 months.
National job gains:
December '05, 145,000
January '06, 154,000 (revised) 170,000 (first reported)
February '06, 200,000 (revised again) 225,000 (revised) 243,000 (first reported) 210,000 (consensus number)
March '06, 175,000 (revised again) 200,000 (revised) 211,000 (first reported) 190,000 (consensus number)
April '06, 126,000 (revised) 138,000 (first reported) 200,000 (consensus number)
May '06, 100,000 (revised again) 92,000 (revised) 75,000 (first reported) 175,000 (consensus number)
June '06, 134,000 (revised again) 124,000 (revised) 121,000 (first reported) 185,000 (consensus number)
July '06, 123,000 (revised again) 121,000 (revised) 113,00 (first reported) 142,000 (consensus number)
August ’06, 230,000 (revised again) 188,000 (revised) 128,000 (first reported) 125,000 (consensus number)
September ’06, 203,000 (revised again) 148,000 (revised) 51,000 (first reported) 125,000 (consensus number)
October ’06, 79,000 (revised) 92,000 (first reported) 160,000 (consensus number)
November ’06, 132,000 (first reported) 110,000 (consensus number)
National unemployment rates:
December '05, 4.9%
January '06, 4.7%
February '06, 4.8%
March '06, 4.7%
April '06, 4.7%
May '06, 4.6%
June '06, 4.6%
July '06, 4.8%
August ’06, 4.7%
September ’06, 4.6%
October ’06, 4.4%
November ’06, 4.5%