The US labor market keeps on strengthening, albeit at a slow pace | Eurobank
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The US labor market keeps on strengthening, albeit at a slow pace

• The November employment report took a stronger tone, signaling accelerating nonfarm payroll growth towards year-end.
• However, we remain cautious about future developments in the US labor market, as goods-producing employment continued declining, while the service-providing employment growth was somewhat distorted by seasonal factors related to the Thanksgiving holiday.
• Whatever the recent improvement in the labor market conditions, the employment growth is still relatively weak, placing the ongoing economic recovery among the jobless US recoveries.
• Sluggish investment in residential and commercial real estate has been an important factor contributing to the slow pace of growth in employment.