The US economy in created 146,000 jobs in November, bringing down unemployment rate to 7.7 percent- the lowest since the recession time in 2008.
The US economy created 146,000 jobs in November, bringing down unemployment rate to 7.7 percent- the lowest since the recession time in 2008. Even hurricane Sandy that hit major parts of Eastern Coast - New York and New Jersey in particular affecting millions of people did not have much impact on job creating, thus indicating that the American economy is showing signs of strong growth.
"Total non-farm payroll employment rose by 146,000 in November, and the unemployment rate edged down to 7.7 percent," the US Bureau of Labor Statistics report said. However, the number of unemployed persons, at 12 million, changed little.
Among the major worker groups, the unemployment rates for adult men is 7.2 percent, adult women (7.0 percent), teenagers (23.5 percent), whites (6.8 percent), and Hispanics (10. percent) showed little or no change in November, official figures said.
The unemployment rate for blacks (13.2 percent) declined over the month. The jobless rate for Asians was 6.4 percent (not seasonally adjusted), little changed from a year earlier. The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.8 million in November. These individuals accounted for 40.1 percent of the unemployed, the report said.