MercoPress. South Atlantic News Agency
US unemployment falls in November to a two and a half years low: 8.6%
The private sector created 140.000 jobs The US unemployment rate fell to a two and half year low of 8.6% in November and companies stepped up hiring, further evidence the economic recovery was gaining momentum.
Non-farm payrolls increased 120.000 last month, the Labour Department said Friday, in line with economists' expectations for a gain of 122.000. The private sector created 140.000 jobs and the public sector lost 20.000.
The relative strength of the report was also bolstered by revisions to the employment counts for September and October to show 72.000 more jobs created than previously reported.
While part of the decline in the unemployment rate from 9.0% in October was due to people leaving the labour force, the household survey from which the jobless rate is derived also showed solid gains in employment.
The unemployment rate had been expected to hold at 9%. It last dropped by 0.4 percentage point in January. Retail accounted for more than a third all new private sector jobs in November.
The index hadn’t been below 9% since last March (8.8%) and now is at its lowest level since 2009 when it was 8.6%.
If the number of workers who have part times jobs but would want full time employment the index that includes unemployed and under-employed has gone down from 16.2% to 15.6%.
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Read all commentsit has between 25 % ...30 % unemployment rate in reality !!
Dec 03rd, 2011 - 09:40 am 0“it has between 25 % ...30 % unemployment rate in reality !! ”
Dec 03rd, 2011 - 04:32 pm 0It is still like that. The “government numbers” went down, because most unemployed had given up looking for work for many reasons.
“The private sector created 140.000 jobs ”
Temporary jobs in the retail sector for the holiday season are responsible for close to 80% of the “jobs” created. Nothing wrong with but they are temporary and majority of the people work on commision. The other “private” job creators were restaurants and in the health care sector.
America,America.how does the song go.Is it how great it is.Not for everyone and if 'America',can't do it,who can.What a waste,people with no work, and wanting work,and 'America' can't pay it's debt.Thats called economic realities.Others call it getting something wrong
Dec 03rd, 2011 - 05:30 pm 0Commenting for this story is now closed.
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