November nonfarm payrolls rise 228,000 vs. 200,000 est.

by
December 8, 2017

101973191-454291056.720x405Nonfarm payrolls rose by 228,000 in November while the unemployment rate held steady at 4.1 percent as the U.S. economy continues to hum along, the Labor Department reported Friday.

Economists surveyed by Reuters had expected nonfarm payrolls to grow by 200,000.

A more encompassing measure of joblessness that includes discouraged workers and those holding part-time positions for economic reasons moved up one-tenth of a point to 8 percent. The ranks of those not in the labor force edged higher by 35,000 to 95.4 million.

Closely watched wage data fell short of expectations. Average hourly earnings rose 0.2 percent for the month and 2.5 percent for the year, versus projected increases of 0.3 percent for the month and 2.7 percent for the year.

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