Hiring Surge Gives U.S. Expansion a Lift Into 2015

Hiring Surge Gives U.S. Expansion a Lift Into 2015

In this Sept. 3, 2014 file photo, people signing up for unemployment fill a room at the Atlantic City Convention Center in Atlantic City, N.J. In a new Associated Press-GfK poll released Wednesday, 9 in 10 of those most likely to go to the polls or mail in a ballot in this year’s midterm elections call the economy an extremely or very important issue.  (AP Photo/Mel Evans, File)
In this Sept. 3, 2014 file photo, people signing up for unemployment fill a room at the Atlantic City Convention Center in Atlantic City, N.J. (AP Photo/Mel Evans, File)

(Bloomberg) – So much for secular stagnation.

A November surprise that included a jump in wages as well as the biggest hiring surge in almost three years suggests the world’s largest economy is putting aside doubts about the strength of the expansion.

The 321,000 advance in payrolls followed a 243,000 increase in October that was stronger than previously reported, Labor Department figures showed today in Washington. The jobless rate held at a six-year low of 5.8 percent and earnings rose by the most since June of last year.

“It’s pretty impressive,” said Ethan Harris, co-head of global economics research at Bank of America Corp. in New York. The jump in payrolls “is the kind of number you get in a booming economy.”

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