US adds 321,000 jobs in November

The US economy added 321,000 jobs in
November, while the unemployment rate
stayed at 5.8%, official Labor Department
figures show .

The number of jobs created was well above
analysts' forecasts of about 225,000 new jobs in
the month.
US employers have added at least 200,000 jobs
for 10 months in a row, the longest period of
jobs growth since 1995.
The number of jobs created has averaged
241,000 a month this year.
The Labor Department added that 44,000 more
jobs were created in September and October
combined than the government had previously
estimated.
But as in the UK, stronger job creation has yet
to lead to a significant increase in salaries.
Analysts said the US economy would continue to
improve, despite lower global growth
expectations.
They added that companies hiring temporary
workers for the winter holidays could be
providing a boost to the overall jobs figure,
The US economy is less dependent on exports
than Germany, China and Japan, but is more
reliant on domestic consumer spending.
Delivery firms have announced ambitious
recruitment plans. UPS has said it expects to
add up to 95,000 seasonal workers, up from
85,000 last year. FedEx plans to hire 50,000, up
from 40,000.
The National Retail Federation estimates that
seasonal retail hiring could grow by about 4% to
as much as 800,000.
Most recent figures suggest Americans are
buying more cars, which is likely to keep
factories busy in coming months. Auto sales last
month rose to their second-fastest pace this
year. Car sales are on track to rise 6% this year
from 2013.
The economy is expected to slow in the final
three months of the year to an annualised
growth rate of 2.5%, down from 4.3% from April
to September.
Meanwhile, the US trade deficit fell slightly in
October, as exports rebounded, while oil
imports dipped to the lowest level in five years.
The deficit edged down 0.4% to $43.4bn, as
against a revised $43.6bn in September, the
Commerce Department reported.
Exports climbed 1.2% to $197.5bn, recovering
after a September dip.
Imports also rose by 0.9% to $241bn, but that
increase was tempered by a 0.6% fall in imports
of petroleum, which dropped to the lowest level
since November 2009.