US payrolls rebound, economy adds 227,000 jobs
Augusta Saraiva
Key Points
- Smoothing out volatility, payrolls growth over the past three months averaged 173,000.
- The participation rate fell to 62.5 per cent, the lowest since May.
- Average hourly earnings rose 4 per cent from a year ago for a second month.
Washington | The US job market returned to health last month after a storm- and strike-constrained October, with a solid advance in payrolls helping to temper concerns of a significant deterioration in the labour market.
Nonfarm payrolls increased 227,000 last month following an upwardly revised 36,000 gain in October, according to Bureau of Labor Statistics figures. Smoothing out volatility, payrolls growth over the past three months averaged 173,000 — a step down from the robust pace seen earlier this year.
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