Best US Economy for Jobs Since 1999

The US is the world’s largest economy and it had an additional 321,000 jobs in November meaning that it is on target to have its best year for job creation since 1999. Economists had predicted that there would be an increase, but the figures were actually 91,000 higher than this. As a result the dollar and US bond yields went up.

us jobs

The figures included a 50,000 increase in retail jobs and it meant that the increase in number of jobs from the previous month was 241,000 which was the largest increase since 1999. The chief US economist at Capital Economics, Paul Ashworth explained that this put the Federal Reserve on the spot. He also said that the decision as to whether to raise interest rates is dependent on data and this shows that conditions are improving very quickly. The Federal Reserve have not yet increased interest rates but have stopped their quantitative easing programme in October. In the past they have said that there would be considerable time until rates went up and it is thought that they may not state this from now on.

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