U.S. employment rose by 321,000 jobs last month, and the unemployment rate remained unchanged at 5.8 percent, the Labor Department said Friday. Economists polled by Thomson Reuters had expected net job growth of 230,000.
The gain is over the average 228,000 jobs added monthly since January. In October, the economy added a net 243,000 jobs, more than economists had expected and an upward revision from the 214,000 initially reported.
Still, the healthy job growth in the economy won't matter to a significant portion of Americans. For most workers, real wages have fallen or remained flat since the 1970s. Many Americans who work part-time jobs want to work full time, and nearly two-thirds who are able to work have dropped out of the labor force, the highest portion opting out of work since the 1970s. The labor force participation rate remained unchanged from October's 62.8 percent.