November jobs report: Sandy impact muted | Reduction

November jobs report: Sandy impact muted

U.S. Union Membership Less Than 12 Percent by Cory M. Grenier
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Excerpt:

(MoneyWatch) The U.S. economy added 146,000 new jobs in November and the employment rate slid to 7. 7 percent from last month's reading of 7. 9 percent. The results were far better than expected. The Labor Department noted that while Superstorm Sandy caused severe damage in the Northeast, the "survey response rates in the affected states were within normal ranges. Our analysis suggests that Hurricane Sandy did not substantively impact the national employment and unemployment estimates for November." Using weekly jobless claims as a guide, economists were bracing for a tepid job creation number. The number of people filing new claims for unemployment insurance benefits soared to 451,000 the first week of November, up from an average of 372,000 the previous four weeks. But in the most recent report, the Labor Department said 370,000 people filed new jobless claims last week.

Keywords:

unemployment unemployment rate percent household survey economy lower unemployment Sandy Labor Department participation rate U.S. economy lower unemployment rate jobless claims fiscal cliff Broad unemployment rate unemployment insurance benefits dramatically lower unemployment unemployment estimates survey response rates work tepid job creation

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Superstorm Sandy

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Paul Ashworth

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PrintMedia: AP

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NaturalDisaster: Hurricane Katrina

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• Hurricane Katrina: dbpedia
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Site Provided Title:

November jobs report: Sandy impact muted

Webpage Provided Keywords:

• economic growth
• employment
• fiscal cliff
• jobs
• november jobs report
• sandy
• unemployment

Webpage Provided Desc:

Economy adds 146K jobs, unemployment at 7.7 percent; The much-feared impact of Superstorm Sandy on the jobs report was for naught

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Full Content: http://feeds.cbsnews.com/~r/CBSNewsBusiness/~3/ftyiuZQHQ3k/

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