Unemployment Rate Drops To 7.7 Percent, As Economy Adds 146,000 Jobs | Essentials

Unemployment Rate Drops To 7.7 Percent, As Economy Adds 146,000 Jobs

Paul Krugman and Ruth Shapiro by commonwealth.club
License (according to Flickr): Attribution License

Excerpt:

The economy added 146,000 jobs, beating expectations. Surprisingly the BLS said that Hurricane Sandy "did not substantively impact the national employment and unemployment estimates for November." The BLS adds that employment increased "in retail trade, professional and business services, and health care." Now, the headline from The Wall Street Journal is that this report from the BLS is the "least important jobs report in 5 years." Why? First, the November data is "extremely noisy." Even without Hurricane Sandy, the Journal points out, the report includes increased hiring for the holidays as well as the jobs of poll workers during the election. Speaking of which this report comes after the elections, so the political ramifications are less urgent.

Keywords:

Hurricane Sandy BLS Bloomberg jobs Wall Street Journal important jobs report percent economist Bloomberg unemployment estimates unemployment rate national employment political ramifications retail trade business services health care poll workers survey median policy makers Thanksgiving holiday jobs market Labor Department jobless rate bad weather Novembers expectations households economy elections Projections election headline data average holidays line

Events:

NaturalDisaster: Hurricane Sandy

Overall Sentiment: 0

Relevance: 0.616116

Holiday: Thanksgiving

Overall Sentiment: 0

Relevance: 0.32135

Disambiguation: References:

• Thanksgiving (Canada): dbpedia
• Thanksgiving (Canada): freebase
• Thanksgiving (Canada): yago

Additional Info:

PrintMedia: The Wall Street Journal

Overall Sentiment: 0.0181657

Relevance: 0.325357

Disambiguation: AwardWinner | NewspaperReferences:

• The Wall Street Journal
• The Wall Street Journal: dbpedia
• The Wall Street Journal: freebase
• The Wall Street Journal: yago

URL Header

Source URL: http://www.npr.org/blogs/thetwo-way/2012/12/07/166722339/unemployment-rate-drops-to-7-7-percent-as-economy-adds-146-000-jobs?ft=1&f=1006

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Site Provided Desc:

The economy added 146,000 jobs, beating expectations. Hurricane Sandy had little effect on the numbers.

URL Provided Title:

Unemployment Rate Drops To 7.7 Percent, As Economy Adds 146,000 Jobs

Data Sources

Full Content: http://www.npr.org/blogs/thetwo-way/2012/12/07/166722339/unemployment-rate-drops-to-7-7-percent-as-economy-adds-146-000-jobs?ft=1&f=1006

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