November Unemployment Drops to 8.6%

Non-farm payrolls rose by 120,000 in November, and 140,000 private sector jobs were created. Since the labor participation rate dropped, the unemployment number dropped down to 8.6% which is a big move considering the economy didn’t create that many jobs. I looked at the details and the jobless number actually comes out to 8.645%. I’m not exaggerating when I say that if November had been 12 hours shorter, the figure could have rounded up to 8.7%.

The October NFP was revised to a gain of 100,000 while the September number was revised to a gain of 218,000.

Over the last four years, the civilian non-institutional population has grown by 7.5 million. The labor force has grown by 38,000. Since the recession ended 29 months ago (officially), NFP has increased by 0.93%

Stock futures look pretty strong this morning.

Posted by on December 2nd, 2011 at 8:48 am


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