By Anthony Ramsumiran - Dec 4, 2015 12:00 AM.
According to data released by the Bureau of Labor Statistics, the US has seen 211,000 job creations nationwide for November 2016. This is slightly above predicted forecasts made in October. The rate of unemployment remains at a static low of seven and a half years.
The sectors that mainly saw job growth was construction, retail and food services. This strong labor market indicates that there could be an interest rate rise. The labor market is one of the most important factors when the US central bank considers a shift in interest rate.
Average hourly earnings increased by four cents, now raising it to $25.25. The sectors that suffered in November were the mining and manufacturing sectors which lost a total of 12,000 jobs.
The strong and steady job growth has increased the confidence investors have in America and in-turn the markets have strengthened by more than a percent on Friday December 4th.
This is a very good sign of future economic stability for the US economy for residents, tourists and future investors.