December 2, 2011
November Unemployment Report
The Department of Labor was released its November unemployment figures. The good news is that the unemployment rate is down to 8.6%, from 9.0%. Moreover, last month's numbers, like the previous few months have been revised to show increased job growth (see this for a nice chart on the recent revisions). The bad news is that part of the story is that fewer people are looking for work and, therefore, are not counted as unemployed. Nevertheless, 120,000 jobs were added last month; not great, but not bad either and better than expectations. Perhaps more importantly, the trend seems to be moving positively, although we'll have to wait and see if that's true.
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