Job growth soars in November with 266,000 new jobs added vs. 187,000 expected

by Adam Ford · Dec 6th, 2019 10:02 am

Last Updated Dec 6th, 2019 at 7:30 pm

The U.S. economy added 266,000 jobs in November, smashing economists' expectations of 187,000 and turning in the best jobs growth number since January 2019.

Unemployment dropped to 3.5%, matching 2019's low — which was the lowest rate since 1969 — and beating economists' expectations of 3.6%.

Tony Bedikian, head of global markets for Citizens Bank, said:

"This is a blowout number and the U.S. economy continues to be all about the jobs. The unemployment rate is at a 50-year low and wages are increasing. Business owners may be getting more cautious due to trade and political uncertainty and growth may be slow, but consumers keep spending and the punch bowl still seems full."

President Trump responded to the numbers on Twitter:

Read more: Financial pundit Jim Cramer: Love or hate Trump, on economy "these are the best numbers of our lives"


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