The November jobs report is out and shows the U.S. labor market continues to hum along.
In November, the economy added 155,000 jobs and the rate remained at 3.7%.
Wages were in-line with expectations, with average hourly earnings rising 0.3% over last month and 3.1% over the prior year. Wage growth has long been tracked for signs of inflation pressures in the economy. In October, wages rose 3.1% over the prior year, the fastest pace of annual wage growth since April 2009 while 250,000 new jobs were created.
Following Friday's report, U.S. stock prices were higher following news that OPEC would cut oil production, sending crude oil prices above 3% and bringing higher markets.
"The slightly more modest 155,000 gain in payroll employment in November It is slowing down its potential, "said Paul Ashworth, chief US economist at Capital Economics.
"There is nothing much to suggest the economy is a sudden decline." jobs report on Friday will be the week's biggest economic event during what's been a chaotic week for markets. (AP Photo / Mary Altaffer)
In November, the manufacturing sector continued to show strength with 27,000 payrolls in that industry after a 26,000 job increase in October. Following Friday's report, the 3-month average for job gains in the U.S.
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Friday's jobs report comes on the not-for-profit-sheet of a Federal Reserve that hikes next to it year.
Last week, Federal Reserve Chair Jerome Powell made "just below" the range of estimates for the rate of interest
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<p class =" canvas-atom canvas-text Mb 1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Myles Udland is a writer at Yahoo Finance. Follow us on Twitter @MylesUdland "data-reactid =" 36 "> Myles Udland is a writer at Yahoo Finance. @MylesUdland