Unemployment Rate Drops To Lowest In Four Years - Spokane, North Idaho News & Weather KHQ.com

Unemployment Rate Drops To Lowest In Four Years

NBCNEWS.COM - The U.S. economy generated a stronger-than-expected 146,000 jobs in November, helping to trim the jobless rate to 7.7 percent, a four year low, the government reported Friday.

The dark cloud in the Labor Department's report, however, was a drop in the size of the work force, which signaled that some people may have given up looking for work. 

Still, despite a late October wallop from Superstorm Sandy and Washington's ongoing pummeling of business and consumer confidence, the U.S. economy isn't down for the count.

The fiscal cliff, though, could still deliver a knockout punch.

 "It looks like the job market is holding firm," said Mark Zandi, chief economist at Moody's Analytics. "That's encouraging in light of all the fiscal uncertainties."

Economists had expected non-farm payrolls to rise about 93,000 and the jobless rate to hold steady at 7.9 percent. Friday's report included revisions to both the September and October data showing that 49,000 fewer jobs were created than first reported.

President Barack Obama's chief economist gave an upbeat assessment of the report, but warned that more needs to be done, as he has done for several months.

"While more work remains to be done, today's employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression," said Alan Krueger, chairman of the White House Council of Economic Advisers. 

The government said Superstorm Sandy which slammed the densely populated East Coast in late October did not have a substantive effect on employment last month.

 

  • Most Popular StoriesMost Popular StoriesMore>>

  • Man who confessed to Cheney pot shop murder provides information on two other cases

    Man who confessed to Cheney pot shop murder provides information on two other cases

    Tuesday, October 17 2017 9:15 PM EDT2017-10-18 01:15:17 GMT

    SPOKANE, Wash. - It's been roughly one month since a Cheney man was murdered, at random, as he ate lunch inside his car. Cameron Smith's body was recovered days after the fatal shooting. Donavon Culps provided a full confession to the killing, and now he's providing information that he says will solve two other Washington murders.

    >>

    SPOKANE, Wash. - It's been roughly one month since a Cheney man was murdered, at random, as he ate lunch inside his car. Cameron Smith's body was recovered days after the fatal shooting. Donavon Culps provided a full confession to the killing, and now he's providing information that he says will solve two other Washington murders.

    >>
  • Spokane cancer patient says she's missing jewelry after surgery

    Spokane cancer patient says she's missing jewelry after surgery

    Tuesday, October 17 2017 10:14 PM EDT2017-10-18 02:14:26 GMT

    SPOKANE, Wash. 48-year-old Sherri Denison has been through a lot in 2017. In February Sherri went in for a mammogram and doctors at sacred heart gave her the news nobody wants to hear "I was diagnosed with ducal carcinoma which is breast cancer in my right breast," said Sherri.

    >>

    SPOKANE, Wash. 48-year-old Sherri Denison has been through a lot in 2017. In February Sherri went in for a mammogram and doctors at sacred heart gave her the news nobody wants to hear "I was diagnosed with ducal carcinoma which is breast cancer in my right breast," said Sherri.

    >>
  • Neighbors outraged after St. Maries officer shoots deer

    Neighbors outraged after St. Maries officer shoots deer

    Tuesday, October 17 2017 11:41 PM EDT2017-10-18 03:41:44 GMT

    ST. MARIES, Idaho - In a windy, but quiet family-friendly neighborhood, it seems like everyone had a personal connection with a certain whitetail deer. “From the mailman, to the Avista guys to the contractors doing work on the homes and all the neighbors,” Mia Suchoski said. Mia Suchoski called the deer “Bucky” while her neighbors Donna and Doug Smeltzer called it “Baby.”

    >>

    ST. MARIES, Idaho - In a windy, but quiet family-friendly neighborhood, it seems like everyone had a personal connection with a certain whitetail deer. “From the mailman, to the Avista guys to the contractors doing work on the homes and all the neighbors,” Mia Suchoski said. Mia Suchoski called the deer “Bucky” while her neighbors Donna and Doug Smeltzer called it “Baby.”

    >>
HD DOPPLER 6i
/