*DJ US Nov Nonfarm Payrolls +132K; Consensus +110K
*DJ US Nov Unemployment Rate 4.5%; Consensus 4.5%
*DJ US Nov Average Hourly Earnings +$0.03 To $16.94
*DJ US Nov Manufacturing Payrolls -15K; Svc-Producing +172K
*DJ US Nov Overall Workweek 0.0 Hour To 33.9 Hours
*DJ US Oct Payrolls Revised To +79K From +92K
*DJ US Oct Unemployment Left Unrevised At 4.4%
=DJ DATA SNAP: US Payrolls Revised Dn For Oct, Up For Sep
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Nov Employment Report ! Consensus: !
Nov Oct ! Payrolls: +110K !
Payrolls +132K +79Kr ! !
Unemployment Rate 4.5% 4.4% ! Actual: +132K !
Hourly Earnings $16.94 $16.91 ! !
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By Jeff Bater
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--U.S. payroll growth accelerated during November, while worker wages grew slightly less than expected, the government said in a report providing favorable signs for the economy and inflation.
Non-farm payrolls increased by 132,000 after growing a revised 79,000 in October and 203,000 in September, the Labor Department said Friday.
Previous reports showed job growth of 92,000 in October and 148,000 in September.
The unemployment rate in November rose 0.1 percentage point to 4.5% from 4.4% in October.
Average hourly earnings increased $0.03, or 0.2%, to $16.94 from October's $16.91. Earnings were up 4.1% from a year earlier.
Some of the numbers were a surprise on Wall Street. The median estimate of 24 economists surveyed by Dow Jones Newswires was a 110,000-job increase in payrolls. Average hourly earnings were expected to go up by 0.3%. The jobless rate was seen inching to 4.5% from 4.4%.
The Federal Reserve stopped raising the federal funds rate over the summer and has held it at 5.25% as the economy slows down. Wall Street is speculating when policymakers might lower rates, sifting through all data to detect economic strength and inflationary pressures.
The Labor Department Friday said hiring last month in goods-producing industries fell by 40,000. Within this group, manufacturing firms decreased 15,000 jobs, while construction firms shed 29,000 jobs.
Service-sector employment increased by 172,000. Retail added 20,000. Leisure and hospitality gained 31,000 jobs.
The average work week held steady at 33.9 hours.
-By Jeff Bater, Dow Jones Newswires; 202-862-6616; jeff.bater@dowjones.com
(END) Dow Jones Newswires
12-08-06 0830ET |
