Unemployment Rate Steady at 5.8% Employers added 321,000 jobs in November, a very healthy showing that echoes other positive economic data recently and bodes well for the crucial holiday retail season underway.
The unemployment rate remained unchanged from last month at 5.8 percent, the Labor Department said Friday.
Wall Street had been expecting payrolls to grow by 230,000 in November, with the unemployment rate remaining unchanged from 5.8 percent in October.
Despite the deep economic frustration many Americans feel, evident in everything from public opinion surveys to water cooler chats to last month’s Congressional elections, the American economy has made significant progress this year. In November 2013, for instance, the unemployment rate was 7 percent, and the jobless rate five years ago this month was 9.9 percent.
A Federal Reserve survey of economic conditions across the country released Wednesday reported healthier consumer spending in many regions, likely as a result of lower gas prices, as well as gains in hiring.
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http://www.nytimes.com/2014/12/06/business...
Posted By: Jeni Fa
Friday, December 5th 2014 at 1:50PM
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