US jobs growth stronger than expected

From BBC - December 8, 2017

US jobs growth was better than expected in November, with payrolls rising by 228,000.

Service, health care and manufacturing firms helped to drive the gains, holding the unemployment rate held steady at 4.1%.

Economists had expected an increase of about 200,000 jobs, but early festive season hiring and a rebound after two hurricanes earlier this year helped to boost growth.

Wages increased by 2.5% year-on-year.

The US Labor Department report follows other recent data suggesting that the US economy is in good shape.

US economic growth has hit an annualised rate of more than 3% in the past two quarters, while the unemployment rate is at its lowest since 2000.

The pace of job growth has slowed compared with 2016, but remains higher than the number needed to keep up with population growth.

And as the labour market tightens, the gap between people of different education levels has narrowed, a sign the expansion is reaching people left out of the earlier economic recovery.

The unemployment rate of those at least 25 years old without a high school diploma fell to 5.2% last month, down from 7.9% a year earlier.

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