Fri | Dec 14, 2018

Slowdown in new US jobs last month

Published:Saturday | December 8, 2018 | 9:30 AM

The United States (US) economy generated less-than-expected jobs last month, a slowdown that analysts blamed partly on a tight labour market.

The US Department of Labour revealed, in its latest report, that American employers added 155,000 jobs in November.

Health care, manufacturing and transportation firms accounted for a majority of the jobs, the Labour Department said.

The gains kept the US unemployment rate unchanged at 3.7 per cent, near record lows.

The 155,000 jobs created in November marks a slowdown from the approximately 200,000 jobs the US economy has added on average each month over the last year.

Paul Ashworth, chief US economist for Capital Economics, believes the latest employment report may add to the nervousness that has hit financial markets in recent weeks.

However, Ashworth says the November figure was "still a solid gain that suggests economic growth is gradually slowing back towards its potential pace".

"There is nothing here to suggest the economy is suffering a more sudden downturn."

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