50 Straight Months...


That’s how many months in a row the US economy has had positive payroll growth. It’s the longest streak on record, and the data dates back to World War II.

In November, the US economy added 321,000 jobs, blowing away expectations for job gains of 230,000. The unemployment rate also held steady at 5.8%, the lowest level since the summer of 2008.

And in addition to the overall job gains streak, November was also the 10th-straight month that the US economy added at least 200,000 jobs, the longest streak since a 19-month run that ended in 1995.

As MUFG’s Chris Rupkey said in a note following the report: “The economy is literally blasting off.”

Rupkey added that, “With one month left to go, the economy in 2014 is fast enough for companies to hire 2.65 million people. It hasn’t been this fast since 1999.”

Just a huge year for the labour market.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.