IE Business Daily Business news for the Inland Empire.
The U.S. economy added 211,000 new jobs in November, the result of increased consumer spending and an expansion of the construction industry, among other factors.
Overall, unemployment remained at 5 percent last month, a 7.5 year low, even as more U.S. residents began to look for work, according to data released Friday by the U.S. Department of Labor.
The country has added 2.3 million jobs this year, an average of 209,000 per month. That is a stronger pace than any year during the past 10 years other than 2014.
The Labor Department also revised its jobs figures from October: it now says 298,000 jobs were created during that month, up from its original estimate of 271,000 jobs for that month.
“It’s a fine report, but ultimately it’s a little boring,” said Chris Thornberg, director of the UC Riverside Center for Economic Forecasting. “It’s basically what’s been going on for the past year and a half. The economy is improving, and it’s improving very slowly.”
