US Jobs Grow Less Than Expected in November
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The U.S. economy added fewer jobs than expected in November, as the unemployment rate rose to the highest level since April, as the jobs market continues to suffer 17 months following the end of the recession.
The Labor Department reported Friday that nonfarm payrolls rose by just 39,000 in November, as the private sector added just 50,000 workers. Economists had expected a much higher increase of 144,000.
The reading for October was revised upward to show an increase of 172,000 jobs from a previous estimate of 151,000.
The unemployment rate increased to 9.8 percent on the troubling report. Economists had expected the unemployment rate to remain unchanged. The rate has now been above 9 percent for 19 consecutive months.
The private sector, which makes up 70 percent of the workforce, disappointed with the 50,000 addition after growing by 160,000 in October. Total government employment fell by 11,000 last month on the weakness of municipal jobs.
The Labor Department reported Friday that nonfarm payrolls rose by just 39,000 in November, as the private sector added just 50,000 workers. Economists had expected a much higher increase of 144,000.
The reading for October was revised upward to show an increase of 172,000 jobs from a previous estimate of 151,000.
The unemployment rate increased to 9.8 percent on the troubling report. Economists had expected the unemployment rate to remain unchanged. The rate has now been above 9 percent for 19 consecutive months.
The private sector, which makes up 70 percent of the workforce, disappointed with the 50,000 addition after growing by 160,000 in October. Total government employment fell by 11,000 last month on the weakness of municipal jobs.
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