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 The US labor market is on fire. According to the latest report from the BLS, the nonfarm payrolls grew by 321,000 in November, crushing expectations. This is the biggest single-month gain in payrolls since January 2012. The unemployment rate was unchanged at 5.8%. This marks the 10th-straight month that the US economy saw payrolls grow by more than 200,000, the longest streak since 1995. October's report was also revised higher, from an initial reading of 214,000 job gains to 243,000. The "U-6" unemployment rate, which also includes those who are working part time for economic reasons and those marginally attached to the labor force, fell to 11.4% from 11.5%. The labor force participation rate also held steady at 62.8%. Wage gains were a bit better than expected, with wages growing 0.4% month-on-month, better than expected. Year-over-year, wage growth came in at 2.1%, which was in-line with expectations. Here is what Wall Street was expecting: - Nonfarm payrolls: +230,000
- Private payrolls: +225,000
- Unemployment rate: 5.8%
- Average hourly earnings, month-on-month: +0.2%
- Average hourly earnings, year-on-year: +2.1%
- Average weekly hours worked: 34.6
More to come ... | 
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