The labor market continues to show steady growth. Over the past 12 months, the economy has added jobs at the rate of about 225,000 per month. November maintained the trend, with nonfarm payrolls adding 234,000 workers. Although payroll figures for September and October were revised, average monthly job growth over this two-month period is effectively unchanged.
Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-12, pp. 11, 12.01.1999.