Strong Job Growth and Lower Unemployment Amid Inflation Challenges

Strong Job Growth and Lower Unemployment Amid Inflation Challenges

(AURN News) – In the face of inflation, new data released by the Bureau of Labor Statistics on Friday show the U.S. economy remains strong. Despite prevailing overall economic challenges, the country added 199,000 jobs in November.

The unemployment rate is now lower at 3.7%, however, beneath the surface, disparities persist. The data reveals a contrast in the experiences of different racial groups. For Black Americans, the unemployment rate is 5.8%, compared to 3.1% for whites.

The healthcare industry emerged as a standout performer, adding 77,000 jobs and surpassing its monthly average for the past year. The government sector also saw an increase, with an addition of 49,000 jobs. The leisure and hospitality sector also experienced a notable uptick in job numbers according to the Labor Department data.

One particularly encouraging aspect of the report is the increase in hourly wages. November witnessed an uptick to $34.10, marking a 12-cent rise.


Click play to listen to the AURN News report from Jamie Jackson:

The post Strong Job Growth and Lower Unemployment Amid Inflation Challenges appeared first on American Urban Radio Networks.

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