The November jobs report reveals that estimations were beat, as 203,000 jobs were created — a big leap from the expected number of 183,000 — and the unemployment rate fell to 7%. Unemployment has not been this low since November 2008, and the odds are looking good for the coming year.
“This was a strong, good quality report, showing continuing momentum,” said Chief Financial Officer of Deloitte, Frank Friedman. “We’re optimistic about 2014, and we continue to hire at a pretty robust pace.”
CNN reports that 35,000 jobs were created in the areas of professional and business services, and 30,500 jobs were added in the transportation and warehousing groups. In addition, manufacturing groups added 27,000 jobs and the health care industry hired 28,000 workers.
“This year started off lopsided — low quality jobs were growing, but only in the last few months, the high quality jobs are coming back too,” said Rajeev Dhawan, director of the Georgia State University Economic Forecasting Center. “The economy is poised for takeoff but suffers from headwinds. If we can survive January and there’s no shutdown, we can take off.”
