The huge job growth data indicates the economy is accelerating from the last year.

Wow! The labor market report released last Friday for November was a blow out number. Nonfarm jobs grew by 266,000 and job growth for September and October were revised upward by 39,000 in total. Job growth on a monthly average in 2019 rose to 180,000 from 167,000, prior to the release of the November report. Job growth averaged 205,000 in just the last three months. This is less than the 224,000 average monthly growth in 2018 but some of this decline is due to a lack of people not already working. This was a very strong report, even if we factor out the monthly volatility from the GM strike.

 

PROBANK AUSTIN ADVISOR - DECEMBER 9, 2019