The U.S. economy is on more solid ground with a steady increase in jobs.
The Labor Department released a report on Friday that showed a burst of hiring in November that added 321,000 jobs.
In addition, the unemployment rate remained at a six-year low of 5.8 percent. However the unemployment rate for African Americans was 11.1 percent, virtually unchanged from October, with a decrease of unemployment of 1.3 percent over the same time last year.
The report shows those with higher education do better than those with less education. The unemployment rate for those with a bachelor’s degree or higher was 3.2 percent.
The government reported that 44,000 more jobs were added in September and October combined than it had previously estimated. So far this year, job gains have averaged 241,000 a month, putting 2014 on track to be the strongest year for hiring since 1999.
“These were boom-like numbers,” said Mark Zandi, chief economist at Moody’s Analytics. “They indicate that the U.S. economy is on very solid ground.”
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