Robust Job Growth Puts U.S. on Firmest Footing in a Decade

U.S. Hiring Figures Reveal Sweet Spot for Economy. Unemployment rate holds at 17-year low of 4.1%.

The U.S. economy is hitting milestones not seen in more than a decade, marked by robust hiring that has led to low unemployment and a sustained pickup in output.

Labor Department data Friday showed nonfarm payrolls rose a seasonally adjusted 228,000 in November—the record 86th straight month of expansion—after a 244,000 gain in October. Steady hiring has in turn driven the unemployment rate down to 4.1% for two straight months, holding at a 17-year low.

That would put economic output on track for a third straight quarter of near 3% growth, a breakout, for now at least, from a long period of 2% growth. The economy hasn’t delivered three straight quarters of growth at or above 3% since a period from mid-2004 to early 2005.

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