Speed Reads

not too shabby

November jobs report 'blows away' expectations

The U.S. economy added 266,000 jobs in November, the Labor Department said Friday, coming in far ahead of expectations.

Analysts had been anticipating around 180,000 jobs being added, The New York Times notes.

"This blows away expectations," CNN's Christine Romans reported, while The Washington Post's Phillip Bump tweeted that he "said 'whoa' out loud" when he saw the number.

Hiring reached its highest level since January, as unemployment fell from 3.6 percent in October to 3.5 percent in November, The Associated Press reports. Average hourly earnings rose 0.2 percent, up 3.1 percent from last year.

The New York Times writes the report "offered a counterpoint to renewed anxieties about an escalating trade war and a weakening global economy," noting tens of thousands of General Motors workers returning after a strike helped boost the hiring totals.