The U.S. economy added 203,000 jobs in November, which was much stronger than the the 185,000 expected. The October number was revised modestly downward to 200,000 from an earlier estimate of 204,000.
Adding to optimism this morning, the unemployment rate plunged to 7.0% from 7.3% last month. This improvement came as the labor force participation rate rose to 63.0% from 62.8%.
Despite the improvements in the numbers, the U.S. labor market remains anemic.