Friday, December 3, 2010

Jobless rate rises to 9.8 pct. as job growth slows

http://finance.yahoo.com/news/Jobless-rate-rises-to-98-pct-apf-4069644244.html?x=0&sec=topStories&pos=main&asset=&ccode=


Yeah right, "We're" looking real good.



The nation's unemployment rate climbed to 9.8 percent in November, a seven-month high, as hiring slowed.

Employers added only 39,000 jobs last month, a sharp decline from the 172,000 created in October, the Labor Department reported Friday. The weakness was widespread. Retailers, factories, construction companies, financial firms and the government all cut jobs last month.

Many economists were predicting the addition of nearly 150,000 jobs. The economy has recently flashed signs of gaining momentum with busier factories, rising auto sales and a good start to the holiday shopping season. But that didn't translate into mass hiring in November.