Friday, December 5, 2014

A Blowout Jobs Report

November's jobs report was the biggest we've seen in nearly three years, with the Bureau of Labor Statistics reporting that the economy added 321,000 jobs. That's an increase of nearly 100,000 over the average job gain of 224,000 for the prior 12 months. The unemployment rate was unchanged at 5.8 percent.

That makes November the biggest month for employment since January 2012, when the economy added 360,000 new jobs. It also means we've seen job growth of at least 200,000 for ten straight months now, and positive job growth for 50 straight months - the longest such streak since World War II.

The biggest increase was in professional and business services, which added 86,000 jobs for the month. But the gains were very broad-based. Retail, health care, manufacturing and financial activities all added at least 20,000 jobs.

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