WASHINGTON, DC—The US economy added 321,000 jobs in November, according to the Bureau of Labor Statistics. The unemployment rate remains unchanged at 5.8%. The job gains occurred in most sectors of the economy, led by professional and business services, retail, health care and manufacturing.
A number of trends are behind these numbers, says National Retail Federation Chief Economist Jack Kleinhenz. "Solid seasonal demand, reduced prices at the pump, and the high though erratic levels of business and consumer confidence, all are supportive of job gains," he says.
"We remain optimistic that we are gaining traction to a more normal labor market in the near future which should contribute to wage and salary growth."
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