Job creation in United States: the US economy remains solid

UNITED STATES: JOB CREATION

197,000 jobs created in the private sector in November (211,000 in total)

The US economy remains solid

Graph week 49

OUR ANALYSIS

A job-rich recovery

In the previous growth cycle, between July 2003 and July 2007, private sector job creations averaged 150,000 per month. Since March 2010, that average monthly figure has increased to 200,000. The current recovery is therefore proving far richer in job creations than the previous growth period and is more consistent with pre-2000 cycles.

The job report also includes the unemployment rate which remained stable at 5% given an increase in the labour force participation rate. Hourly wages rose by 0.2%, following a 0.4% increase in October.

Overall, this job report is highly likely to provide the Fed with the confidence it needed to increase rates at its next meeting on November 16th.

 

 

 

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Julien-Pierre Nouen

Directeur des études économiques et de la gestion diversifiée