The U.S. Bureau of Labor Statistics (BLS) released the November 2013 unemployment report showing an addition of 203,000 new jobs and a decreased unemployment rate of 7.0%, the lowest level in five years.
Last month’s unemployment report pleasantly surprised experts with a solid increase in jobs added—all taking place during the government shutdown. In light of this, many economists were anxiously awaiting the November report—the last in 2013—to show whether the October data had been a fluke, or if it was a sign of upward growth.
The November report showed that the data was indeed a sign of positive growth with the economy adding jobs, a positive revision of 8,000 positions in September and October, and a slight increase in the employment-population ratio.
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