The U.S. economy added 120,000 jobs during the month of November as the unemployment rate fell to a two and a half year low of 8.6 percent. The news was well-received by the markets and provides further evidence that the economy is improving.
“The labor market is gradually healing. It’s a glacial pace, but we are taking small steps in the right direction,” said Ryan Sweet, a senior economist at Moody’s Analytics.
The relative strength of the report was also bolstered by revisions to the employment counts for September and October to show 72,000 more jobs created than previously reported.
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