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Despite an unexpected jump in jobless claims last week to 313,000, economists expect the job-creation pace is continuing in November.
Rising to that challenge can contribute greatly to the need to triple the continent's job-creation pace to absorb the more than 10 million people entering its labor markets each year.
A news analysis article in Business Day yesterday about the economy's lackluster rate of job creation misstated the pace of employment growth foreseen by the president's Council of Economic Advisers last December.
Job creation barely kept pace with the entry of new people into the workforce.
The 120,000 net new jobs employers reported is only about the rate of job creation needed to keep pace with a rising population.
"The U.S. has succeeded in part because of its dynamism, its high pace of job creation and destruction, and its high pace of churning of workers," said University of Maryland economist John Haltiwanger.
Despite a healthy pace of job creation and an unemployment rate down to 5.6%, average American wages fell in December.But all this gloom must be set against some big reasons for cheer.
Job creation has not kept pace.
Job creation has merely kept pace with population growth.
Job creation has basically kept pace with population growth.
The Fed's policy-making committee said Wednesday that while it expected growth would continue at a "moderate pace," job creation and household spending both slowed in recent months.
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