WASHINGTON, DC—The US economy added 321,000 jobs in November, according to the Bureau of Labor Statistics. The unemployment rate remains unchanged at 5.8%. The job gains occurred in most sectors of the economy, led by professional and business services, retail, health care and manufacturing.
A number of trends are behind these numbers, says National Retail Federation Chief Economist Jack Kleinhenz. "Solid seasonal demand, reduced prices at the pump, and the high though erratic levels of business and consumer confidence, all are supportive of job gains," he says.
"We remain optimistic that we are gaining traction to a more normal labor market in the near future which should contribute to wage and salary growth."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
