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Expand chart
Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 228,000 new jobs in November, while the unemployment rate stayed firm at 4.1%, the Labor Department said Friday.

  • Manufacturing job growth led the way in November, adding 33,000 new jobs, and bringing the total new manufacturing jobs in 2017 to 189,000.
  • Even the battered retail sector added more than 18,000 new jobs, bringing employment in that sector to levels not seen since March.

Why it matters: As lawmakers rush to pass tax reform aimed at goosing the economy, the jobs market is running as hot or hotter than any time in the past decade.

One puzzling thing: Wage growth still remains muted, even with rock bottom unemployment. As economist Justin Wolfers frames it:

The key puzzle remains: With unemployment this low, why aren't we seeing faster nominal wage growth? Suggests that the economy still has room to run without igniting inflation.— Justin Wolfers (@JustinWolfers) December 8, 2017

Implications for the Fed: Incoming Fed Chair Jerome Powell will have to navigate this vexing question as the central bank attempts to steer interest rates higher without puncturing the economic recovery.

Go deeper

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Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.

Far-right figure "Baked Alaska" arrested for involvement in Capitol siege

Photo: Shay Horse/NurPhoto via Getty Images

The FBI arrested far-right media figure Tim Gionet, known as "Baked Alaska," on Saturday for his involvement in last week's Capitol riot, according to a statement of facts filed in the U.S. District Court in the District of Columbia.

The state of play: Gionet was arrested in Houston on charges related to disorderly or disruptive conduct on the Capitol grounds or in any of the Capitol buildings with the intent to impede, disrupt, or disturb the orderly conduct of a session, per AP.