Friday night’s US jobs report was solid, from the BLS:
Total nonfarm payroll employment increased by 211,000 in November, and the unemployment rate was unchanged at 5.0 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in construction, professional and technical services, and health care. Mining and information lost jobs.
…The change in total nonfarm payroll employment for September was revised from +137,000 to +145,000, and the change from October was revised from +271,000 to +298,000. With these revisions, employment gains in September and October combined were 35,000 more than previously reported.
…In November, average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $25.25, following a 9-cent gain in October. Over the year, average hourly earnings have risen by 2.3 percent.
Here are the charts from Calculated Risk. Solid headline:
Firm year on year growth:
Falling unemployment rate:
Not so good analytics:
Plenty of shadow slack: 
Slow public recovery:
Slow wage rises:
Lock in your December rate hike. At the current rate, I’d expect at least two more next year depending upon how quickly the dollar rises and emerging markets fall.
