A broad-based November hiring surge ranging from factories to offices and retailers powered the U.S. economy to the largest number of jobs created in almost three years, triggering long-awaited wage gains.
The U.S. economy added 321,000 jobs in November and far more than forecast. The November jobs report is impressive in its strength but offers few worries to the Fed in terms of budding inflationary pressures.
Total nonfarm payroll employment increased by 321,000 in November, and the unemployment rate was unchanged at 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Job gains were widespread, led by growth in professional and business services, retail trade, health care and manufacturing.