The US unemployment rate is now the lowest it has been in five years, at 7% with the help of 203,000 new jobs. If we continue to see job growth in this range, the unemployment rate could drop to 6% (considered a rate of a strong growth economy), in 2014.
200,000 jobs were also added the month before, in October, when the unemployment rate stood at 7.3 percent. So in two months, over 400,000 new jobs have been created. The latest results also beat economists' estimates of 183,000 jobs, according to a CNN Money survey. Analysts also expected an unemployment rate of 7.2 percent last month. This is excellent considering that the Obama Administration has been fighting the double whammy of the 2 "S's" Shutdown and Sequestration, both brought about by rebellious members of the US Congress.
Government sources, at the Department of Labor said the November gains to increased hiring in transportation and warehousing, health care and manufacturing.
But more good news is that people who said they were temporarily laid off fell by 377,000 — this was a direct result of the recent government shutdown, when thousands of federal workers were furloughed for more than two weeks.
"Lower unemployment rates will tend to help real estate values. We are seeing steady and gradual improvements in the commercial, agricultural, industrial and retail land values" said Ben Boothe, Appraiser.