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November job growth indicates continuing robust U.S. economy
The U.S. economy added 266,000 jobs in November — exceeding economists’ consensus predictions — and the unemployment rate was “little changed” at 3.5 percent, according to the Bureau of Labor Statistics.
In addition, the change in total nonfarm payroll employment for September was revised upward by 13,000 to 193,000, and the change for October was revised upward by 28,000 to 156,000. In 2019, monthly job growth has averaged 180,000, compared with an average monthly gain of 223,000 in 2018.
The strong showing in November has eased some concerns about the U.S. economy weakening. Calvin Schnure, senior vice president, research and economic analysis, at Nareit, noted: “The robust jobs growth in November shows that we aren’t in a ‘late cycle’ world. 2020 is looking pretty good for the economy, real estate and REITs.”
With the unemployment rate clocking in at 3.5 percent — down from 3.6 percent in the previous month — the U.S. economy looks to