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Unemployment falls in November

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The U.S. unemployment rate decreased to 7 percent in November from 7.3 percent in October as U.S. employers added 203,000 jobs, according to The Washington Post. Economists were expecting to add 185,000 jobs.

Additionally, hiring growth in September and October was revised up. September's job growth was revised up to 175,000 from 163,000, and October's job growth was revised up to 204,000 from 200,000.

In October, the professional and business services sector added 35,000 jobs; transportation and warehousing sector added 31,000 jobs; health care sector added 28,000 jobs; manufacturing sector added 27,000 jobs; retail sector added 22,000 jobs; leisure and hospitality sector added 18,000 jobs; and construction sector added 17,000 jobs.

The federal government sector lost 7,000 jobs. The mining and logging, wholesale trade, information, and financial activities sectors basically were unchanged.

Data from the past two months shows that despite the federal government shutdown, businesses continued to hire at a rapid pace; manufacturing activity increased; and consumers spent more.

There currently are 10.9 million unemployed people in the U.S.


12/10/2013

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