The much anticipated jobs report was released this morning showing a drop in the unemployment rate to 8.6% in November from 9.0% in October. We also saw a creation of 120,000 jobs in November, including 140,000 from the private sector. This number was off a little from the expectations of 125,000, but the market seemed to focus more on the good unemployment figure.
Eric Marvin, CFP®, CRPC®
One figure that was a little frustrating was the fact that the number of discouraged workers rose to 129,000, which is higher than in previous months. Overall though, the jobs report has done a pretty good job of weathering all of the various economic shocks and has actually managed to accelerate in the second half of the year.
JPT120211-1965
