Promising data on the U.S. economy sets two-year mark
The United States’ total nonfarm payroll employment increased by 321,000 in November, the largest increase since it grew by 360,000 in January 2012 and the fourth largest monthly increase since the global financial crisis, according to the Bureau of Labor Statistics. Furthermore, nonfarm payroll employment has increased by at least 200,000 for 10 consecutive months, the longest streak since 1995, according to Bloomberg, and a strong indicator that the economy’s recovery is on track and stable.
After setting a six-year low at 5.8 percent in October, the unemployment rate remained at 5.8 percent in November. Employment in retail trade rose by 50,000 in the month in the ramp-up to the holiday shopping season, far greater than the average gain of 22,000 per month during the prior 12 months and nearly double the 27,000 jobs added in Oc