Economy Added 146,000 Jobs in November

Posted on December 8, 2012

November was another mediocre month for the U.S. economy. The economy added 146,000 jobs and the unemployment rate fell to 7.7%. If the economy were healthy we would be expecting job creation in the 250,000 to 300,000 range, but at least it was plus 100,000 number.

Hurricane Sandy was not much of a factor in November in employment. The U.S. Department of Labor noted in the report that "Hurricane Sandy did not substantively impact the national employment and unemployment estimates for November."

Rebecca Jarvis reports for CBS News that the reason the unemployment rate fell is because people gave up on looking for work, which is depressing. Gains came in retail, professional services and health care. Take a look: