Jobless Rate Falls For November

The nation’s jobless rate fell to 4.6% in November. That’s a nine-year low. However, coupled with weak pay increases in 2016, it suggests longer-term challenges for the US economy. Employers added 178,000 jobs last month. Michigan News Network Business Editor Murray Feldman explains where the jobs are right now.

“So far this year, professional business services has been a top spot for job creation,” Feldman said. “Over a half million people found jobs there. We’re talking about accountants, managers, computer system designed, consultants. And also healthcare. Over 400,000 healthcare jobs were filled so far this year.”

Feldman says this all points to a likely interest rate hike before the end of the year.