Economy
December 9, 2019
Net Job Creation Through November 2019
Written by Peter Wright
The popular press often gets overly excited or depressed by a single month’s employment report, but November really was an exceptional month.
Net job creation in November increased to 266,000 following upwardly revised results for September and October. September was revised up by 13,000 and October by 28,000. Rising employment and wages are the main contributors to GDP growth because personal consumption accounts for almost 70 percent of GDP. Steel consumption is related to GDP; therefore, this is one of the indicators that help us understand the reality of the steel market.
