WASHINGTON (12/9/13)--The U.S. economy is "not all the way back to normal, but it's getting there," Credit Union National Association Vice President of Economics and Statistics Mike Schenk told The Washington Post last week.
Schenk's comments were incorporated into coverage on new U.S. Department of Labor numbers which show the U.S. economy added 203,000 jobs in November. The unemployment rate also fell to 7% during that month, and around 455,000 employees joined the workforce, the department reported.
"Given the headwinds in the federal government sector, it's pretty impressive overall," Schenk said. He noted he expects the economy to expand at a 3% rate in 2014.
Secretary of Labor Thomas Perez noted the November employment report continues the 45-month trend of private-sector job growth, with 8.1 million new jobs created over that time.
"In the last 12 months alone, American businesses have added 2.3 million new private-sector jobs. This puts the American economy in a strong position heading into the December holiday season," Perez said.
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