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

Unemployment Rate Drops To Lowest In Four Years

Posted: Updated:

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>>

  • LOOKING FOR A HOME? 10 Homes For Sale In Spokane For $125,000

    LOOKING FOR A HOME? 10 Homes For Sale In Spokane For $125,000

    Thursday, April 17 2014 5:56 PM EDT2014-04-17 21:56:12 GMT
    SPOKANE, Wash. - Spring is a popular time to purchase and sell a home. Here are 10 homes for sale in Spokane for $125,000. These homes were found on www.WindermereSpokane.com. If you would like more information on any of these homes or would like to schedule a tour, contact your real estate agent with the correct MLS number.>>
    SPOKANE, Wash. - Spring is a popular time to purchase and sell a home. Here are 10 homes for sale in Spokane for $125,000. These homes were found on www.WindermereSpokane.com. If you would like more information on any of these homes or would like to schedule a tour, contact your real estate agent with the correct MLS number.>>
  • LOOK: 5 Foreclosed N. Idaho Homes For Sale For Under $120,000

    LOOK: 5 Foreclosed N. Idaho Homes For Sale For Under $120,000

    Wednesday, March 12 2014 2:00 PM EDT2014-03-12 18:00:09 GMT
    KHQ.COM - If you are in the market to buy a house you may want to consider looking at these homes that are currently in foreclosure in N. Idaho. These are five homes in multiple areas of N. Idaho that you can get for under $120,000. With a little paint and some elbow grease, many of these homes would be great for those who are looking to flip a home and turn a profit.>>
    KHQ.COM - If you are in the market to buy a house you may want to consider looking at these homes that are currently in foreclosure in N. Idaho. These are five homes in multiple areas of N. Idaho that you can get for under $120,000. With a little paint and some elbow grease, many of these homes would be great for those who are looking to flip a home and turn a profit.>>
  • LOOKING FOR A HOME? Here Are 15 Homes For Sale For $175,000

    LOOKING FOR A HOME? Here Are 15 Homes For Sale For $175,000

    Tuesday, April 15 2014 10:08 AM EDT2014-04-15 14:08:47 GMT
    KHQ.COM - Spring is a popular time for those looking to buy or sell their home! We found 15 homes currently for sale in Spokane and surrounding areas all priced at $175,000. These homes were found on WindermereSpokane.Com for more information on a particular property, contact your real estate agent with the correct MLS number.>>
    KHQ.COM - Spring is a popular time for those looking to buy or sell their home! We found 15 homes currently for sale in Spokane and surrounding areas all priced at $175,000. These homes were found on WindermereSpokane.Com for more information on a particular property, contact your real estate agent with the correct MLS number.>>