2014 Is the Best Year for Job Growth Since 1999

“The number is almost off the charts, given what we’ve seen over the past 10 years,” explains Patrick O’Keefe, director of economic research at accounting firm CohnReznick. Are the higher-than-expected November hiring numbers a fluke? O’Keefe says no; companies are making up for hiring that was deferred earlier in the cycle. Forecasters had expected a gain of 228,000 jobs last month, but that number surged to 314,000, according to the U.S. Labor Department. In addition, AGMetalMiner.com reports that new federal figures show year-over-year growth in construction spending. Still, many firms report impacts from growing shortages of qualified workers. Ken Simonson, chief economist at the Associated General Contractors Association, says even as a number of markets continue to struggle with declining construction demand and employment, most metro areas are adding construction jobs as the industry slowly recovers.


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