Strong November Jobs Report Shows 203,000 Jobs Gained

Jobs, jobs, and more jobs — they're what's on the mind of many Americans and today, and the shine of silver lined the Labor Department's employment report, with unemployment down to 7 percent from 7.3 percent in October and non-farm payrolls increased by 203,000, with an October revision from 200,000 to 204,000. Average hourly earnings are up 0.2 percent, and labor force participation is at 63 percent over 62.8 percent in October. In total, 196,000 private sector jobs were added in November, while the government reduced federal employment by 7,000 jobs. Of those 196,000 in November, professional and business services went up 35,000 jobs, while transportation and warehousing came in second for growth with a gain of 31,000 jobs, followed by a increase of 27,000 jobs in manufacturing, and 22,000 in construction. Job growth in the United States is averaging at 193,000 jobs month over month, suggesting to many analysts that a time for reducing quantitative easing (tapering) is on the horizon for 2014.