Unemployment Drops to 7.7% for November
byDec 7th 2012 12:17PM
The unemployment rate fell to 7.7% for November, according to a Department of Labor report [link opens in PDF] released today. This follows October's 0.1-percentage-point rise to 7.9%.
Despite a 146,000 increase in nonfarm payroll employment, the total number of unemployed persons remained relatively unchanged at 12 million. The 7.7% is a full percentage point under November 2011's rate.
The report takes special note of Superstorm Sandy, saying the storm "did not substantively impact the national employment and unemployment estimates for November."
Among sectors with the largest employment gains were retail trade (+53,000), professional and business services (+43,000), and health care (+20,000).
The article Unemployment Drops to 7.7% for November originally appeared on Fool.com.You can follow Justin Loiseau on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.