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Job Growth Returns To A Healthy Pace Of 215,000 In Nov.; Wages' Yearly Gain Is 3.2%; Broad employment gains latest proof of strength; pay hikes are up, still mild.(A)
Byline: LAURA MANDARO
Hiring rebounded to pre-hurricane levels while wages rose at their fastest pace in over two years, adding to the picture of an economy growing strong and not setting off inflation alarms.
Companies added 215,000 jobs in November, in line with estimates and the best gain since July, the Labor Department said Friday.
The jobless rate held at 5%, just above a four-year low.
After the Gulf Coast hurricanes wrecked area businesses and prompted a spike in regional unemployment, the U.S. overall added just 17,000 jobs in September and 44,000 in October, according to the latest revisions.
Analysts said November's gains confirm that the economy has sprung back from the storm-related shock -- and then some.
A 37,000 increase in construction jobs, due in part to early Gulf Coast rebuilding efforts, propelled job growth past the average 196,000 gain during the first eight months of the year.
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