Jobs Report: U.S. Economy Added 321000 Jobs In November, Unemployment ...
Friday morning The Bureau of Labor Statistics reported the strongest payroll additions in four years. Employers added 321,000 jobs in November, far stronger than to the 230,000 economists were predicting. The unemployment rate, which is drawn from a different survey of well above, remained steady at 5.8% still the lowest level since the recession.
The October payroll count, which was initially weaker than hoped, was revised higher from plus 214,000 to plus 243,000. The September number was also increased from plus 256,000 to 271,000. Total employment gains in September and October were therefore 44,000 greater than what BLS - a division of the Department of Labor - previously reported. Average monthly gains for the 12 months leading up to November were 224,000. January is now the only month of 2014 with job gains below 200,000.
Average hourly earnings rose by 9 cents in November to $24.66, bumping the year-over-year growth rate to 2.1% from 2%. The workweek was little changed at 34.6 hours. The labor force participation rate held at 62.8%. The employment-population ratio was also unchanged at 59.2%.
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