Solid US job growth cuts unemployment to 7 pct.

[Judi Lynn]

Source: Associated Press

Solid US job growth cuts unemployment to 7 pct.
By CHRISTOPHER S. RUGABER, AP Economics Writer | December 6, 2013 | Updated: December 6, 2013 3:30pm

WASHINGTON (AP) — The U.S. job market has been recovering fitfully for three years. Now, it's starting to show consistency.

Employers added 203,000 jobs in November, and the unemployment rate fell to 7 percent, a five-year low. Stock investors were heartened by the news. The Dow Jones industrial average surged 180 points in late-afternoon trading.

The economy added an average of 204,000 jobs from August through November, up sharply from 159,000 a month from April through July. The robust gain suggested that the economy will begin to accelerate. As more employers step up hiring, more people have money to spend to drive the economy.

The job market has shown signs of strengthening at other times since the recession ended 4½ years ago, only to weaken and discourage hopes. Some economists say this time, employers may have enough confidence in the economy and consumer demand to step up hiring. A sturdier job market would, in turn, accelerate Americans' spending and energize economic growth.


Read more: http://www.chron.com/news/us/article/Solid-US-job-growth-cuts-unemployment-to-7-pct-5040928.php

[joanbarnes]

1. Healthcare for all might help. Imagine how great if no obstruction from treasonous repukes!

[Kingofalldems]

2. Kick and Rec for Ayn Rand.

Last edited Fri Dec 6, 2013, 09:37 PM - Edit history (1)

[PSPS]

3. Hardly "solid job growth." Lower unemployment is easy when the work force is shrinking.

More people are giving up, meaning they aren't counted for this statistic. The real unemployment rate continues to grow and stands at about 23%.

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.