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Economy adds 321K jobs

By Vicki Needham – 12/05/14 08:37 AM EST

The economy added 321,000 jobs in November, a huge number that surpassed expectations.

The unemployment rate held steady at 5.8 percent.

It’s the strongest month of job growth since January 2012, and is the tenth straight month the economy has added more than 200,000 jobs.
It’s also the most jobs the economy has added in a year since 1999, according to the Bureau of Labor Statistics.
The report revised figures for September and October to show more growth.
September’s figure was revised up to 271,000 from 180,000, while October saw a bump to 243,00 jobs from 214,000.
The strong growth comes as Republicans are about to take over control of the Senate next year after a triumphant midterm election.
But it will bolster the Obama administration’s arguments about its stewardship of the economy.
It will also raise questions for the Federal Reserve, which is considering interest rate hikes for the first time since before the recession.
In terms of specific sectors, construction jobs were up 20,000 and retailers added 50,000 jobs ahead of the holiday shopping season.
The economy grew at a 3.9 percent annual pace in the July-September quarter, which was better than initially reported, the Commerce Department said last week.

Source:The Hill

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