Hiring surged in November as employers added 321,000 jobs, crowning 2014 as the strongest year for job growth since 1999. The unemployment rate remained steady at 5.8%, according the government report released last Friday. That’s down from 7% this time last year.
Hiring blew out the consensus forecast from economists who expected a gain of 228,000 jobs.
“The number is almost off the charts, given what we’ve seen over the past 10 years,” said Patrick O’Keefe, director of economic research at accounting firm CohnReznick, who does not feel it’s an anomaly. “Companies are making up for hiring that was deferred earlier in the cycle.”
The U.S. economy has been gaining an average of 224,000 jobs a month over the past year. Any month with job gains over 200,000 is considered strong.
Gee it’s too bad that President Obama made the poor choice of being born with too much pigment in his skin, or this might really impress people.
I swear if they announced that this man had cured cancer the conservatives would complain about all of the doctors and researchers that he had put out of business.
By the way somebody remind me, who was the President in 1999? And WHICH party did he belong to?