IRVINE, CA—With Friday’s release of the Bureau of Labor Statistics (BLS) November Employment Situation report, economists saw an increase in average monthly gains, marking a new record high for the recovery. Chris Muoio, senior associate and economist with Research, offered the following analysis: 

“The BLS released November employment data today, and it appears Christmas has come early for commercial and residential real estate. November saw a massive 321,000 jobs added, crushing expectations, and marking the strongest monthly gain since January of 2012. The report also included upward revisions to September and October, adding a total of 44,000 jobs to those months. This brings the average monthly gain this year to 240,000, a new high for the recovery.

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