09 Dec Jobless Rate Stays at 5%

Employers added more jobs than expected this past November.  Due to the increased rate of hiring this past month it is expected that the Fed’s will raise interest rates for the first time since 2006. Employment rates soared in November after Construction companies took on an estimated 46,000 workers, the biggest increase in construction hiring since January of 2014. Retailer companies, health care companies, hospitality companies, and others as well added a fair amount of jobs in November, but the rate was slower than that of October. The job data for November will likely be used as a guide for future increases. This progress has made the Fed’s confident that the economy can withstand higher interest rates.