United States unemployment rate is the lowest it has been since August 2007, setting the stage for an imminent interest rate hike from the Federal Reserve in the near future. JLL’s employment report digs into the data and the trends.
The November 2016 employment summary includes:
- The U.S. labor market added 178,000 net new jobs in November, consistent with monthly additions during the second half of 2016 but below the year-to-date and 2015 averages.
- Labor-market tightening has become very visible at national level as well as across metropolitan areas.A combination of falling unemployment and job creation exceeding the rate of labor-force expansion will likely lead to a new normal for monthly growth.
- Although growth figures are not at previous levels, they remain healthy enough for the overall labor market to continue heading in the right direction in terms of demand for workers and wage growth.
To read the full report, click here.