US Jobs Growth Falls Far Short of Expectations
over 3 years in Mckoys News
US employers hired only 210,000 more workers in November, missing economists’ predictions for stronger growth. Forecasters had been expecting US non-farm payrolls to increase by 550,000. However, the unemployment rate dropped sharply to 4.2% and more Americans returned to the work force. The mixed jobs data does not reflect the emergence of the Omicron variant at the end of November which could affect the economic recovery. President Joe Biden described the jobs recovery as “very strong,” despite the disappointing headline figure. The rate dropped from 4.6% in October. Wages also rose month on month and many employers have been offering…