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.
- 1 Rarest Beanie Baby bought for just £10 at car boot sale could be sold for £62,500 on eBay
- 2 Katie Hopkins and The Sun editor are reported to police for incitement to racial hatred following migrant boat column
- 3 Katie Hopkins has just written a piece so hateful that it might give Hitler pause – why was it published?
- 4 Australian student Tommy Connolly, 23, adopts his pregnant, homeless 17-year-old cousin to give her a chance at 'a better life'
- 5 Cancel Sky at your peril: man spends 96 minutes in chat but fails to get rid of service
Rarest Beanie Baby bought for just £10 at car boot sale could be sold for £62,500 on eBay
Katie Hopkins and The Sun editor are reported to police for incitement to racial hatred following migrant boat column
'Jihadi John': Isis executioner Mohammed Emwazi wanted to wage jihad in Somalia until his friends were betrayed and killed by al-Shabaab
Parma, Missouri: 80 per cent of town's police quit after first black mayor is elected
Australian student Tommy Connolly, 23, adopts his pregnant, homeless 17-year-old cousin to give her a chance at 'a better life'
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
iJobs Money & Business
£30 - 35k (DOE): Guru Careers: We are seeking a Pricing Analyst with experienc...
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£21000 - £24000 per annum: Ashdown Group: The Ashdown Group has been engaged b...
£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, int...