12/12: MetroIntelligence Economic Update by P. DUFFY

Job growth dipped slightly in November to 228,000, unemployment rate remains at 4.1 percent

Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent. Employment continued to trend up in professional and business services, manufacturing, and health care.

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Job openings fell 2.9 percent in October as hires rate rose more than separations

The number of job openings fell by nearly three percent to 6.2 million on the last business day of October. Over the month, hires increased 4.4 percent to 5.6 million and separations fell 1.3 percent to 5.2 million.

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Bloomberg Consumer Comfort Index rises to 13-week high

Improved sentiment about the buying climate and personal finances helped carry household optimism to a 13-week high to 52.3. One sign of the stock market’s effect on optimism was that confidence among those who are unemployed, which includes retirees, reached a new 16-year high as the values of retirement accounts climbed.

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November consumer credit use rose at highest rate in 11 months

American consumers increased their borrowing by $20.5 billion in October. It was the biggest gain in 11 months and reflected strong increases in the use of credit cards and in auto and student loans.

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