Payrolls in U.S. Increase More-Than-Forecast 146,000
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The U.S. labor market withstood the impact of superstorm Sandy as job growth exceeded forecasts in November and the unemployment rate declined to the lowest since December 2008.
Employment climbed by 146,000 following a revised 138,000 increase in October that was less than initially estimated, Labor Department figures showed today in Washington. The median forecast of 91 economists surveyed by Bloomberg called for a gain of 85,000. The unemployment rate fell to 7.7 percent as the labor force shrank.