Jobless dip boosts recovery hopes
Saturday 03 December 2011
The US unemployment rate fell to a two-and-a-half-year low of 8.6 per cent in November and companies stepped up hiring in further evidence that the US economic recovery is gaining momentum.
Non-farm payrolls increased 120,000 last month, the US Labor Department said yesterday, in line with economists' expectations for a gain of 122,000. The relative strength of the report was also bolstered by revisions to the employment counts for September and October to show 72,000 more jobs were created than previously had been reported.
While part of the decline in the unemployment rate from 9.0 per cent in October was due to people leaving the labour force, the household survey from which the jobless rate is derived showed solid gains in employment.
The jobless rate had been expected to stay at 9 per cent. It last fell by 0.4 percentage point in January.
"The really good news is that employment has grown for four months running – in large steps. There was a solid increase in private employment. Everything there looks steady, but clearly healthy and positive," Pierre Ellis, a senior economist at Decision Economics, said.
The retail sector accounted for more than a third of all new private sector jobs in November.
Data ranging from manufacturing to retail sales suggest that growth could succeed in topping 3 per cent in the fourth quarter of the year.
Board creates magnetic field to achieve lift
Follow the latest events from this Champions League fixture
Like Madonna, Sister Cristina Scuccia's video is also set in Venice
Singer says the track was 'force-fed down people's throats'
techThe original free dating app will remain the same, developers say
- 1 Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
- 2 Banksy arrest hoax: Internet duped by fake online report claiming artist's identity has been revealed
- 3 Drink alcohol and eat meat to improve male fertility - but cut down on coffee, studies suggest
- 4 Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
- 5 The inventor of the Facebook 'like' button says he never made a 'dislike' button because he feared the 'unfortunate consequences'
Ukraine crisis: Donetsk 'tactical missile' explosion at factory sends blast wave across rebel-held city
Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
Oscar de la Renta dead: Legendary US fashion designer dies after long cancer battle aged 82
Banksy arrest hoax: Internet duped by fake online report claiming artist's identity has been revealed
Super-sized ships arrive in Britain: How big can they get?
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Lord Freud: Tory welfare minister apologises after saying disabled people are 'not worth’ the minimum wage
Lord Freud hangs on as MPs of all parties 'call for his head' over disability comments
iJobs Money & Business
£23000 - £26000 Per Annum: Clearwater People Solutions Ltd: Our client is curr...
£25 - 30k: Guru Careers: A Corporate Actions Administrator / Operations Admini...
£18 - 23k + Benefits: Guru Careers: We are seeking a Customer Service Executiv...
£60 - 65k + Benefits: Guru Careers: We are seeking a ASP.NET Web Developer / ....