Economists React To November Jobs Report On Twitter
The U.S. added 288,000 jobs in November, the country's 86th consecutive month of job growth, as the country’s unemployment rate remained at 4.1%, the U.S. Bureau of Labor Statistics reported Friday.
Here’s how some economists reacted on Twitter.
The key puzzle remains: With unemployment this low, why aren't we seeing faster nominal wage growth? Suggests that the economy still has room to run without igniting inflation.— Justin Wolfers (@JustinWolfers) December 8, 2017
The economy added 228,000 jobs in November—bringing the three month average up to 170,000, which is likely more reflective of the underlying rate of job growth. Either way, this is more than enough to absorb new entrants in the labor market and keep up with population growth. pic.twitter.com/Ir392BaSV8— Elise Gould (@eliselgould) December 8, 2017
Still not seeing the acceleration in wages. Average hourly earnings up 0.2% for the month, 2.5% for the last year. That is real wage growth of ~0.5%, if anything a slowdown in the pace of wage growth when it should actually be increasing.— Jason Furman (@jasonfurman) December 8, 2017
The biggest employment gains are going to those who need them most. (1/2) pic.twitter.com/lHrOcYkZPR— Jed Kolko (@JedKolko) December 8, 2017