In November, the economy added 39,000 jobs, after an increase of 172,000 in October (previously reported: +151,000 jobs). The figure surprised the market on the downside, as private sector analysts had expected job gains of 168,000. As a result of the weaker-than-expected monthly reading, the unemployment rate increased from 9.6% in October to 9.8% in November. The soft November reading reflected weak private sector hiring, as private non-farm payrolls increased by 50,000 units, down from the 160,000 boost in October. Meanwhile, the public sector cut 11,000 jobs in November, which almost entirely offset the job growth of 12,000 seen in the previous month. The economy lost an accumulated 8.3 million jobs between December 2007, the official start of the recession, and December 2009. Over 2010, the economy recovered less than one million jobs, indicating that the US labour market recovery is not yet firmly entrenched. Consensus Forecast panellists expect the unemployment rate to average 9.7% in 2010, and to decline slowly to an average of 9.4% in 2011.
United States Unemployment
Unemployment increases on weaker-than-expected payroll growth
December 3, 2010
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United States Economic News
United States: Clinton’s lead over Trump widens but presidential election results are still uncertain
October 20, 2016
Only a few weeks ahead of the 8 November presidential elections, major polls suggest that Hillary Clinton has extended her lead over Donald Trump, but the presidential race will be decided in the most fiercely contested states.
October 14, 2016
In September, nominal retail sales expanded 0.6% over the previous month.
October 7, 2016
Non-farm payrolls grew 156,000 in September, which came in below August’s upwardly-revised increase of 167,000 (previously reported: +151,000).
October 3, 2016
The ISM manufacturing index increased more than expected in September and returned to expansionary territory, after a temporary setback in August.
September 27, 2016
The S&P/Case-Shiller 20-city home composite index rose 0.6% in July over the previous month.