News

December 06, 2013

Jobs growth strong, unemployment at five-year low

The U.S. household unemployment rate fell to a five-year low of 7 percent and nonfarm payrolls rose by 203,000 in November in a strong jobs report that will raise expectations that the Federal Reserve will reduce its stimulus sooner than expected.

 

GRAPHIC: link.reuters.com/ram54t

 

KEY POINTS: * Nonfarm payrolls increased by 203,000 new jobs last month, the Labor Department said on Friday. The unemployment rate dropped three tenths of a percentage point to its lowest level since November 2008 as some federal workers who were counted as jobless in October returned to work after a 16-day partial shutdown of the government.

* Job gains for September and October were revised to show 8,000 more jobs created than previously reported, lending strength to the report. Other details were also upbeat, with employment gains across the board, hourly earnings rising and the workweek lengthening.

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