By Bethany Blankley, Market Square

The U.S. economy added far more jobs than expected in November according to the latest numbers released by the Bureau of Labor Statistics (BLS). The joblessness rate also reached another 50-year low.

Total nonfarm payroll employment rose by 266,000 in November. Job growth has averaged 180,000 per month so far in 2019, BLS reports, compared to the average monthly gain of 223,000 in 2018.

Overall, the private sector added 254,000 new jobs in November, far more than the 178,000 expected jobs, and the 163,000 added in October.

Education and health services industries added 74,000 jobs, more than double the numbers added in October. Business services and leisure also added 38,000 and 45,000 positions, respectively.

The manufacturing sector added 54,000 jobs, exceeding the estimated 40,000 jobs initially projected by economists.

“This is a blowout,” Maria Bartiromo, Fox Business Global Markets Editor Mornings, said. “Look at these manufacturing numbers, a blowout.”

The unemployment rate also dropped to 3.5 percent, matching September’s, the lowest level since 1969.

“The incredible job growth we saw in November is more evidence that now is the perfect time for work-focused welfare reform,” said Kristina Rasmussen, senior fellow at the Foundation for Government Accountabily, of making sure those who can work, are able to get off the sidelines and into “the hottest job market in a generation.”


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