BREAKING: US economy adds 146,000 jobs in November
The U.S. economy added a solid 146,000 jobs in November and the unemployment rate fell to 7.7 percent, the lowest since December 2008. The government said Superstorm Sandy had only a minimal effect on the figures.
Hiring remained steady during the storm and in the face of looming tax increases. But the government said employers added 49,000 fewer jobs in October and September than initially estimated. And the unemployment rate fell from 7.9 percent in October mostly because more people stopped looking for work and weren’t counted as unemployed.
Photo: A man walks past destroyed homes on the Rockaway Peninsula in the Queens borough of New York on Nov. 27, 2012. (Seth Wenig/AP Photo)
shortformblog: The good news: Things are improving. The better news: A tough month after Sandy didn’t crimp the improvement.