Chart of the Day: Net New Jobs in November

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The American economy added 211,000 new jobs last month, 90,000 of which were needed to keep up with population growth. This means that net job growth clocked in at a brisk 121,000 jobs—nearly all of it in the private sector. The headline unemployment rate stayed steady at 5.0 percent. All of this gain was because more people were employed, not because folks were dropping out of the labor force. In fact, the labor participation rate inched up a bit, and the number of people not in the labor force inched down. This number is genuinely due to more people getting jobs.

Unfortunately, this didn’t translate into good wage growth, as it did last month. Hourly earnings of production and nonsupervisory employees were up imperceptibly and weekly earnings were essentially flat too. Still, this report is basically good news, and certainly good enough for the Fed to go ahead and raise rates for the first time in a decade. This may not be a good idea, but it was inevitable in the face of anything other than an economic collapse, and it probably isn’t really all that big a deal. It won’t help things, but I doubt that it will hurt much either.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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