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WASHINGTON (AP) — The latest U.S. jobs report makes it clear that Donald Trump will be inheriting the same two-track economy that plagued his predecessor.
Hiring is solid, and the unemployment rate is low -- but some long term problems persist. They include a stubbornly high number of men who are out of work and have given up looking.
The jobless rate dropped from 4.9 percent to 4.6 percent last month, mainly because of those who are jobless but are no longer looking for work.
A key challenge for the Trump administration is to extend the benefits of job growth to include many of those who feel left out. The job market's durability will help to some extent. Eventually, low unemployment should make employers offer higher pay to attract more workers. That, in turn, could persuade more Americans to resume their job hunts and find work.
Aside from the longer-term challenges, recent data suggest that the economy is in decent shape. Americans bought homes in October at the fastest pace in nearly a decade.
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210-w-37-(Mark Smith, AP White House correspondent, with Eric Schultz, deputy White House press secretary)--The White House says today's jobs report makes clear President Obama is leaving his successor an economy that's the envy of the world. AP White House Correspondent Mark Smith reports. (2 Dec 2016)
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152-a-13-(Gus Faucher (foh-SHAY'), deputy chief economist, PNC Financial Services Group, in AP interview)-"job pretty easily"-PNC Financial Services Group Deputy Chief Economist Gus Faucher says that, with the U.S. nearing full employment, jobs are out there for people with the right skills. (2 Dec 2016)
<<CUT *152 (12/02/16)££ 00:13 "job pretty easily"
APPHOTO NYBZ501: FILE - In this Wednesday Nov. 2, 2016, file photo, job seekers attend a New York Department of Citywide Administrative Services job fair, in New York. On Friday, Dec. 2, 2016, the U.S. government issues the November jobs report. (AP Photo/Bebeto Matthews, File) (2 Nov 2016)
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