U.S. unemployment rate falls to 8.6% in November, raising hopes for growth

The unemployment rate fell to its lowest level in more than two years in November set as an employer at a steady pace, according to a new report that offers hope for the workforce in the holiday season.

The unemployment rate fell to 8.6 percent last month from 9 percent in October to its lowest level since the economic free fall in March 2009, the Department of Labor reported on Friday morning. But the improvement in the labor market was not as strong as this fall suggests: Almost half of the decrease was people falling out of employees to not count, because even to seek work to be attributed.

But more than 278,000 people identified themselves as employees, and a separate survey of employers – this is usually more reliable as an indicator for each month – they were added 120,000 jobs. This is about the creation of jobs needed to keep pace with a growing population.

Together, the two surveys show the labor market, is the gradual healing, and even gain some strength, but not enough to the Nation set to open 13.3 million unemployed back to work quickly.

U.S. markets, from about 1 percent after the report was published, but lost some gains in the afternoon. In 13 hours, the Dow Jones Industrial Average fell 0.3 percent percent, the broader Standard & Poor and tech-heavy Nasdaq was 0.5 percent.

said in another positive sign in the report, Office work was the creation of jobs in September and October as originally estimated, through a combination of 72,000 people. 321 000 jobs per month since August – and the survey of U.S. households, the unemployment rate is based, has now a strong growth for four consecutive months shown. This suggests that there is some momentum in the economy that is not captured by surveys of employers, perhaps because of the increasing self-employment or business start-ups.

are however, not all characters in the sunny report. Average hourly wages rose by only 0.1 per cent or two cents to $ 23.18. And the public sector job cuts continue, it cuts with 20,000 in November. The U.S. Postal Service has lost 5,000 jobs.

The report “further along the encouraging U.S. economic data continues to be stable to the crisis of debt in the euro zone and the deepening of the lack of leadership, the national fiscal policy,” said Alan Levenson, chief economist at T. Rowe Price, in an e-mail. He also called for the decline in unemployment “abnormal,” said he hoped that there is something in December.

Obama will be undone, appear at an event in Washington to promote the effective inclusion of buildings, said sign of economic progress in the report.

Obama and other Democrats argue that the continued high unemployment and slow job creation strengthens the arguments for the extension of a reduction in the payroll tax is scheduled at the end of the year and the extension of emergency unemployment benefits are also set to expire expire

“We can not cut from the payroll tax to expire at the end of this year, -. In fact, we must do more to increase them. We need to cut additional support to families and small businesses every single one in the next fiscal year by legislation that our economy is back on track and people back to work, “said Senator Bob Casey (D-Pa.), chairman of the Congress Joint Economic Committee.

House Republican leader, said the rise setting “good news”, but argued that President Obama should have more time for economic recovery and to spend less time focused on campaigning.

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