Labor pains

8 December 2017 By Gina Chon, Christopher Beddor Follow @GinaChon

The U.S. economy added more jobs than expected in November but wage growth remained tepid. President Trump claims the GOP tax bill will lead to big raises but most companies plan to spend profit on buybacks and dividends. When the market is king, workers tend to come last.

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The U.S. economy added 228,000 jobs in November while the unemployment rate remained steady at 4.1 percent, the Bureau of Labor Statistics said on Dec. 8. Economists surveyed by Reuters expected an increase of 200,000 jobs in November. Average hourly wages rose by 0.2 percent in November to $26.55 and were up 2.5 percent from a year earlier, while the labor force participation rate remained flat at 62.7 percent. The professional and business services sector added 46,000 jobs, while manufacturing saw payrolls increase by 31,000 positions.

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