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- Millan Mulraine, senior macro strategist at TD Securities
The unemployment rate declined to 8.6 percent in November from 9 percent in October, said the Bureau of Labor Statistics on Friday. Economists expected the reading to remain at 9 percent.
"It's good news, not great news," said Nariman Behravesh, chief economist at IHS Inc. in Lexington, Massachusetts. "The labor market is gradually healing. I wouldn't take huge comfort that the unemployment rate is falling but some comfort that it's edging down."
"The economy is continuing to head in the right direction," said Millan Mulraine, senior macro strategist at TD Securities in New York. "However, the ultimate test of the sustainability of the recovery is for the economy to create a sufficient number of jobs to sustain a consumer-led rebound in activity."