A fourth straight month of solid hiring cut the U.S. unemployment rate to a five-year low of 7 percent in November, an encouraging sign for the economy.
The Labor Department says employers added 203,000 jobs, nearly matching October's revised gain of 200,000. The job gains helped lower the unemployment rate from 7.3 percent in October.
The strengthening job market is likely to fuel speculation that the Federal Reserve may start to scale back its bond purchases when it meets later this month.
The economy has now generated an average of 204,000 jobs from August through November. That's up from 159,000 a month from April through July.
Many of the November job gains were in higher-paying industries. Manufacturers added 27,000 positions, the most since March 2012. Construction firms gained 17,000.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus