American Firms Keep Hiring, Easing Worries of Weakening Economy
The unemployment rate is “now at a half-century low of 3.5%” – this matches the lowest jobless rate since 1969 – and economists have also given a warning that hiring would soon slow because there are fewer unemployed workers. However, in November, employers added 266,000 jobs – the highest number since January. Monthly hiring has averaged 205,000 for the past three months.
Associated Press reported that “Friday’s jobs report largely squelched fears of a recession that had taken hold in the summer. Steady job growth has helped reassure consumers that the economy is expanding and that their jobs and incomes remain secure.”
President Trump tried to focus voter’s attention on the state of the economy instead of his impeachment inquiry. Trump even tweeted “JOBS, JOBS, JOBS!”