U.S. Economic News

December 6, 2019

U.S. Economic Indicators

The U.S. economy added 266,000 jobs in November, exceeding expectations. The unemployment rate decreased to 3.5%, the labor force participation rate edged down to 63.2%, and average hourly earnings annual growth was 3.1%. BLS Report

The University of Michigan Consumer Sentiment Index rose 2.4 points to 99.2 in the preliminary December reading and is up 0.9 point from December of last year. The Index of Consumer Expectations rose 1.6 points to 88.9 while the Current Economic Conditions Index rose 3.6 points to 115.2. University of Michigan

U.S. News

The Wall Street Journal reports that Treasury Secretary Steven Mnuchin is working closely with Fed officials to ensure that enough reserves are available to prevent future strain in short-term lending markets. The Fed injected billions of dollars into money markets for the first time since the financial crisis after short-term rates spiked briefly in September. WSJ