The Norman Transcript
NORMAN — Good news came in bunches this past week. The jobs report came in positive, the stock market rose and housing and manufacturing numbers improved, too.
The job market gains were not unexpected. Economists had been predicting better numbers. The Associated Press reported the nation’s employers added 203,000 jobs last month after adding 200,000 in October.
The announcement by the Labor Department helped the stock market post an improved finish Friday afternoon. All 10 sectors in the S&P 500 index rose. The gains came after a week that saw dips even with relatively good economic news.
Investors were concerned that the improving economy could send a signal that the Fed would soon pull back on its $85 billion in monthly bond purchases. Those buys have kept long-term interest rates low and supported the stock market.
November’s job gain helped lower the unemployment rate to 7 percent from 7.3 percent in October. Analysts said the numbers were significant in that many of the jobs were in the manufacturing sector.
Job creation earlier this year has been in the retail sector, which tends to have lower payrolls than manufacturers.
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