Economic Statistics for 5 Dec 14
The Labor Department reports that 321,000 net new jobs were created in November, while the unemployment rate was unchanged at 5.8%. Average weekly hours rose 0.1 hours to 34.6, while average hourly earnings rose 9 cents to $24.66. The labor force participation rate was unchanged at 62.8%. The real rate of unemployment, using the pre-crisis historical average participation rate of 66.2%, rose 0.06% to 10.59%.
In October, the US trade gap narrowed very slightly to $-43.4 billion from a revised $-43.6 billion in September.
Factory orders fell a further -0.7% in October, following September’s -0.5% decline.
Consumer credit rose $13.2 billion in October, mainly on a $12.3 billion rise in non-revolving credit, which disappoints retailers.