US registers lowest unemployment rate in Nov in four years

Economy

The US economy in created 146,000 jobs in November, bringing down unemployment rate to 7.7 per cent the lowest since the recession time in 2008.

Even hurricane Sandy that hit major parts of Eastern Coast New York and New Jersey in particular affecting millions of people did not have much impact on job creating, thus indicating that the American economy is showing signs of strong growth.

"Total non-farm payroll employment rose by 146,000 in November, and the unemployment rate edged down to 7.7 per cent," the US Bureau of Labor Statistics report said.

However, the number of unemployed persons, at 12 million, changed little.

Among the major worker groups, the unemployment rates for adult men is 7.2 per cent, adult women (7.0 per cent), teenagers (23. 5 per cent), whites (6.8 per cent), and Hispanics (10. per cent) showed little or no change in November, official figures said.

The unemployment rate for blacks (13.2 per cent) declined over the month. The jobless rate for Asians was 6.4 per cent (not seasonally adjusted), little changed from a year earlier.

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.8 million in November. These individuals accounted for 40.1 per cent of the unemployed, the report said.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus