Unemployment in the US falls to 3.5%; the hiring recovers in the wake of the General Motors strike

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(CNN Business) - The United States added 266,000 jobs in November 2019, compared to 156,000 aggregates in October this year, the Labor Department reported Friday. Earnings include auto workers who returned to work after a six-week strike at General Motors.

The unemployment rate in the United States fell slightly to 3.5%. That coincides with a minimum of 50 years also reached in September of this year.

The report shows a continuation of the strong labor market in recent years. It marks the twenty-first consecutive month in which the unemployment rate has been equal to or less than 4%, a level that is generally considered to represent full employment. And thanks to the strong labor market, workers have been able to advance in wages, which have increased by 3.1% in the last 12 months. Annual salary increases have averaged 3% or more each month since August 2018.

President Donald Trump celebrated the news: "Great employment report."

GREAT JOBS REPORT!

- Donald J. Trump (@realDonaldTrump) December 6, 2019

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The manufacturing sector added 54,000 jobs in November, offsetting a decrease in October related to almost 50,000 General Motors workers who were on strike.

But employment increases were widespread throughout the United States economy. The health care sector had a great profit, up to 45,000, as did the entertainment and hospitality industry, which also added 45,000 jobs.

"This strongly helps put recession fears in the rearview mirror," said Michael Arone, chief investment strategist at State Street Global Advisors.

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Still, the overall level of hiring so far this year is a bit slower this year than in 2018. Employers added an average of 223,000 jobs every month last year compared to just 180,000 this year.

And there are areas where employment gains were weaker. Retail only added 2,000 jobs before the holiday shopping season. And construction only added about 1,000 jobs. But that may be because, in a hot labor market, employers have trouble finding the workers they need in those areas. Both sectors have very low unemployment rates for those looking for work and who recently worked in those fields.

- CNN Business' Paul La Monica contributed to this report.