By Lucy Bayly
The economy added 266,000 jobs last month, partly boosted by returning workers from General Motors who had been on strike in October. The blockbuster November number was much higher than economists’ expectations of 187,000.
Unemployment ticked back down to a historic 3.5 percent — the lowest rate since 1969 — and wage growth rose to an average hourly rate of 3.1 percent, according to data released Friday by the Bureau of Labor Statistics.
Wall Street reacted favorably to the blowout numbers: The Dow Jones Industrial Average soared by 220 points at the opening bell, with the S&P 500 gaining 0.72 percent and the Nasdaq composite index rising by 0.8 percent.
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