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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.

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Facebook, Twitter take down Trump post saying kids are immune to coronavirus

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Facebook removed a video post from President Trump Wednesday in which he claimed in an interview with Fox News that children are "almost immune" to COVID-19.

Why it matters: It’s the first time that Facebook has removed content from Trump's account for violating policies on coronavirus-related misinformation.

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Trump campaign outraises Biden's by $20 million in July

Combination images of President Trump and former Vice President Joe Biden. Photo: Alex Wong/Getty Images/Mark Makela/Getty Images

President Trump's re-election campaign and the Republican National Committee announced on Wednesday they collectively raised $165 million in July.

Why it matters: With 90 days until the election, Trump and the RNC outpaced the Biden campaign, the Democratic National Committee and their joint fundraising committees, who announced earlier Wednesday that they raised $140 million last month.

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Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 6:30 p.m. ET: 18,643,633 — Total deaths: 703,127 — Total recoveries — 11,206,409Map.
  2. U.S.: Total confirmed cases as of 6:30 p.m. ET: 4,811,128 — Total deaths: 157,690 — Total recoveries: 1,528,979 — Total tests: 58,239,438Map.
  3. Public health: Florida surpasses 500,000 confirmed casesFauci calls U.S. coronavirus testing delays "totally unacceptable."
  4. Business: America's next housing crisis.
  5. States: Virginia launches contact tracing app using specs from Apple and Google.
  6. Politics: White House, Democrats remain "trillions of dollars apart" on stimulus talks.