November 2011 Jobs Report: Unemployment Rate Falls to 8.6%, 120,000 Jobs Added
Posted on December 2, 2011The November jobs report showed signs of an improvement. The unemployment rate fell to 8.6%, which is the lowest rate since March 2009. The economy added 120,000 jobs. More jobs need to be added each month (there are still way too many Americans out of work), but this was a step in the right direction.
The September 2011 jobs report was revised upward by 52,000 jobs for a gain of 210,000 jobs. The October 2011 jobs report was also revised upward by 20,000 for a gain of 100,000 jobs.
The Bureau of Labor Statistics says in its report that 50,000 of the jobs created in November were retail jobs. This jobs could be temporary employment and they might go away in 2012.
President Obama wants a payroll tax cut passed to help fuel additional job growth. Take a look: