Recently released figures from the Bureau of Labor Statistics for November found a record-setting number of Americans employed, with over 156 million people working across the United States.
“The unemployment rate held steady at 3.7 percent for the third month in a row; and the number of employed Americans once again reached an all-time high of 156,795,000, the 13th record since Donald Trump became president,” writes CNS News.
“Wages continued rising as well: In November, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents to $27.35. Over the year, average hourly earnings have increased by 81 cents, or 3.1 percent,” adds the report.
On the negative side, the economy added approximately 150,000 in November; short of the projected 237,000 positions heading into the Holiday Season.
Read the full report here.
GREAT AGAIN: April Jobless Claims PLUMMET to 45-Year Low
Jobless claims in early April dropped by over 9,000 applications to just over 230,000; reaching levels not seen in the United States since the mid 1970s.
The new data shows America’s unemployment claims are at a 45-year low as the labor market continues to roar to life under President Trump and the Republican-controlled Congress.
According to Market Watch, the strong report shows companies across the country complaining about a “shortage of labor” as more and more Americans go back to work.
“Layoffs are near a 45-year low and show no sign of rising. Companies increasingly complain about a shortage of skilled labor with the unemployment rate at a 17-year low of 4.1%, making it harder for them to fill a record number of job openings,” writes Market Watch.
“With labor so hard to find, the bar for letting people go is very high, so layoffs will remain a close to their current levels for some time yet,” said a chief economist.
GREAT AGAIN: Average American Credit Scores ‘HIT ALL TIME HIGH’
The US economy continued to soar under President Trump and the GOP-controlled Congress this summer, with new data showing the average American credit score hitting an all-time high.
According to CNBC, the average national credit score spiked to 704 according to FICO. The ratings range from 300 to 850.
“Average credit scores most recently bottomed at 686 during the housing crisis about a decade ago, when there was a sharp increase in foreclosures,” writes CNBC.
“As we’ve gotten further from the Great Recession, lenders are increasingly competing for new card volume, and part of that is loosening their underwriting criteria in order to be more competitive,” said one industry insider.
Read the full report here.