Unemployment recedes at last
The unemployment rate slid below 6 percent this year for the first time since 2008. And U.S. companies added 321,000 jobs in November, the biggest monthly spike in three years.
Those are extraordinary figures for economy watchers. Unfortunately, many of those new jobs were part-time seasonal work at companies bulking up for the holidays. January's jobs number will shed more light on how many of those jobs stuck around. And high-paying industries aren't adding many new positions at all.
Still, the unemployment rate and the jobs momentum may be leading the Federal Reserve to normalize its monetary policy, which was another big business story this year. The Federal Reserve meets this week and will issue a regular policy statement Wednesday. Observers are watching the statement for language about whether regulators will keep a key interest rate near zero for a "considerable time." If that phrase disappears, look for the Fed to start raising rates next year.
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