November 2010 Jobs Report is Awful

Posted on December 5, 2010

The November, 2010 jobs report crushed all hopes the economy is improving. The report was in positive territory, but not by much. The numbers were far below what economists had been expecting for November and awful considering there should have been lots of hiring in the retail sector this time of year.

U.S. employers added only 39,000 jobs, which was far below the 150,000 jobs economist were expecting according to CNN/Money. The retail sector, which should be hiring, lost 28,000 jobs in November.

The unemployment rate climbed to 9.8 percent.