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US economy healthy, new jobs data shows
November 7, 2014, 2:21 pm

The US job market has improved dramatically since 2013 as the unemployment rate continues to fall  [AP]

The US job market has improved dramatically since 2013 as the unemployment rate continues to fall [AP]


The US economy appears to be at its healthiest in more than six years, Department of Labor statistics released on Thursday indicate.

The job market added 214,000 jobs in October, the figures show. For 2014, job growth has averaged over the 200,000 mark – a three per cent increase over average figures in 2013.

The Labor Department also said that it revised a total of 31,000 more jobs for August and September employment data.

The new figures helped push the unemployment rate down from 5.9 to 5.8 per cent.

This marks the lowest rate since July 2008.

If third quarter results are an indication, the US economy is doing far better than the Eurozone and while not as high as China’s 7.5 per cent growth, the performance has pushed the Federal Reserve to terminate its 2009 stimulus regimen.

Source: Agencies

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