Unemployment Steady at 3.7 Percent as Economy Adds 263,000 Jobs in November

The economy added 263,000 jobs in November, again coming in ahead of expectations. Perhaps more importantly, wages continue to grow at a rapid pace, as the October average hourly wage was revised up by 6 cents. The annual rate of wage growth over the last three months was 5.1 percent, the same as the rate over the last year. The rapid pace of wage growth paints a very different picture than we…

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