Washington, DC —
Today, the Department of Labor's Bureau of Labor Statistics issued its monthly report on the U.S. job market. The report showed that the economy created 215,000
jobs in the month of November, and the unemployment rate remained unchanged at 5.0 percent. In addition, U.S. Gross Domestic Product (GDP) growth of 4.3 percent is at its fastest pace since 2004.
"Today's jobs report and the recent GDP growth of 4.3 percent are strong signs that the U.S. economy is robust and on the track to continued growth," Thune said. "Many challenges have threatened our economy over the past few years, including the attacks on September 11th and a series of natural disasters. But thanks to Republican-led, pro-growth policies and a series of across-the-board tax cuts, American workers and business owners have been able to keep more of their hard-earned money and have used that money wisely—reinvesting in the economy, creating jobs, and saving for the future.
"During this holiday season, we have much to be thankful for. Our nation is stronger and more prosperous than ever. Americans have proven they have the resilience, strength and ability to overcome hardship, rebuild and prosper. I will continue to work in Congress to empower hard-working South Dakotans with the tax relief and tools they need to grow their income, care for their families, and plan for the future."
In addition to strong job growth, the U.S. economy is showing other signs of continued expansion:
jobs in the month of November, and the unemployment rate remained unchanged at 5.0 percent. In addition, U.S. Gross Domestic Product (GDP) growth of 4.3 percent is at its fastest pace since 2004.
"Today's jobs report and the recent GDP growth of 4.3 percent are strong signs that the U.S. economy is robust and on the track to continued growth," Thune said. "Many challenges have threatened our economy over the past few years, including the attacks on September 11th and a series of natural disasters. But thanks to Republican-led, pro-growth policies and a series of across-the-board tax cuts, American workers and business owners have been able to keep more of their hard-earned money and have used that money wisely—reinvesting in the economy, creating jobs, and saving for the future.
"During this holiday season, we have much to be thankful for. Our nation is stronger and more prosperous than ever. Americans have proven they have the resilience, strength and ability to overcome hardship, rebuild and prosper. I will continue to work in Congress to empower hard-working South Dakotans with the tax relief and tools they need to grow their income, care for their families, and plan for the future."
In addition to strong job growth, the U.S. economy is showing other signs of continued expansion:
- Lowest rate of core inflation in more than two years. The increase in the rate of inflation was lower than initial expectations, with the price index of consumer spending rising 3.6 percent, compared with initial estimates of 3.7 percent.
- November Consumer Confidence climbs. The Conference Board's November Consumer Confidence rating is 98.9, a 13-point increase from October's 85.2.
- Sales of new single family homes showed the biggest one-month gain in 12-years. Sales of new single-family homes increased by 13 percent in October and pushed sales to an all-time high of 1.42 million units.