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Unemployment rate ticks down to 9% in November [View All]

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WI_DEM Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-04-11 08:40 AM
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Unemployment rate ticks down to 9% in November
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The nation's unemployment rate fell to 9 percent for October, from 9.1 percent last month, but hiring slowed as employers faced more uncertainty over future economic growth.


The Labor Department said the economy added 80,000 jobs last month, the fewest in four months and below September's revised total of 158,000.


Businesses added 104,000 jobs, below September's total. Government shed 24,000 jobs.

The report included some positive signs: The government revised August and September's figures upward by 102,000. Average hourly earnings rose. And the unemployment rate fell for the first time since July, because a separate survey of households showed more people found work.


Healthier consumer spending was the key reason the economy expanded at an annual pace of 2.5 percent in the July-September quarter, the best quarterly growth in a year. Growth in consumer spending tripled from the spring, despite renewed recession fears and wide fluctuations in the stock market.

http://www.cbsnews.com/8301-201_162-57318401/u.s-unempl...
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