Daily News: December 8, 2015

Labor Department: November 69th Consecutive Month of Job Growth

The Labor Department reported 211,000 jobs were added in November. It was the 69th consecutive month of private sector job growth, to the tune of 13.7 million jobs created — the longest streak on record.

For the first time since 1999, the Labor Department said the U.S. is on track to have back-to-back years of average monthly growth of over 200,000 jobs. The unemployment rate held steady at 5.0%. Job growth in November was not just solid, but widespread, including very strong growth in construction.

U.S. labor secretary Thomas E. Perez commented, “Other economic indicators provide reason for bullishness. Retail sales for the beginning of the holiday shopping season have been encouraging. Auto sales were again very strong in November: $18.19 million at an annualized rate. The iconic U.S. auto industry, which was flat on its back just seven years ago, continues its remarkable comeback. Historic collective bargaining agreements recently reached by the Big Three automakers remind us all that shared sacrifice between management and labor can lead to shared prosperity.”