Labor markets continue to show strength, as nonfarm payroll employment increased by 263,000 jobs in November, according to the Bureau of Labor Statistics, and the unemployment rate remained unchanged at 3.7 percent.
In addition, the changes in nonfarm payroll employment in September and October were revised to 269,000 jobs and 284,000 jobs, respectively. And wages have continued to rise. Hourly earnings are up 5.1 percent over the past 12 months — up from 4.7 percent in October.
By employment category, the strongest job growth was in leisure and hospitality, which added 88,000 jobs in November. In addition, gains were seen in healthcare (45,000 jobs), government (42,000 jobs), other services (24,000 jobs) and social assistance (23,000 jobs). Construction saw in increase of 20,000 jobs