National jobless rate hits seven-year low

New employees are also making more money

(NBC News) – The nation’s jobless rate is at a seven-year low of five percent.

While holiday hiring is up, the numbers show the job growth is more evenly spread.

“It is a broader gain in jobs than just a seasonal factor,” says Wells Fargo Chief Economist John Silvia.

Those new employees are also making more money. Average hourly earnings jumped nine cents an hour, representing an annualized gain of 2.5 percent.

“These are all bellwethers of an economy that’s moving in the right direction,” Silvia says.

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