In another upbeat sign for the U.S. labor market, the Labor Department released a report on Friday showing stronger than expected job growth in the month of November.
The report showed that non-farm payroll employment rose by 203,000 jobs in November following a revised increase of 200,000 jobs in October.
Economists had been expecting employment to increase by about 180,000 jobs compared to the addition of 204,000 jobs originally reported for the previous month.
With the stronger than expected job growth, the unemployment rate pulled back to 7.0 percent in November from 7.3 percent in October.
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