The jobs market turned in a stellar performance in November, with nonfarm payrolls surging by 266,000 and the unemployment rate falling to 3.5%, according to Labor Department numbers released Friday.
Those totals easily beat the Wall Street consensus. Economists surveyed by Dow Jones had been looking for solid job growth of 187,000 and saw the unemployment rate holding steady from October’s 3.6%. The decline in November’s jobless rate came amid a corresponding 0.1 percentage point drop in the labor force participation rate, to 63.2%.
Stocks opened sharply higher in reaction to the better-than-expected report. Bond yields also surged.
“Bottom line, America is working,” Larry Kudlow, director of the National Economic Council, told CNBC’s “Squawk on the Street.” “These are very strong numbers. These are happy numbers, these are sunny Friday numbers.”
Throughout history, nations have had to fight off takeovers by larger, foreign entities. Tune in as Alex Jones looks into another illogical “controversy” whipped up by a perpetually offended news media and its sheeple viewers.
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