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Unemployment falls to 7.7 percent

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Friday, December 07, 2012

The U.S. added 146,000 jobs in November and the unemployment rate fell to 7.7%, its lowest rate since December 2008.

The unemployment rate fell to a four-year low in November from 7.9 percent in October mostly because more people stopped looking for work and weren't counted as unemployed.

The report "is something of a mixed bag but, on balance, it's a positive," said Paul Ashworth, an economist at Capital Economics.

Sandy's effect on the figures was much smaller many analysts had predicted. The government noted that as long as employees worked at least one day during a pay period — two weeks for most people — its survey would have counted them as employed.

Read more at OregonLive.com.

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Guest
0 #1 Positively discouragedGuest 2012-12-07 20:03:29
People giving up finding jobs is "mostly positive"?
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