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Unemployment Rate Drops to 7.7 Percent

wdwrkr Wrote: Dec 07, 2012 12:03 PM
Does this mean we don't need additional "stimulus" spending?
DB07 Wrote: Dec 07, 2012 12:15 PM
I'm thinking the $50 billion "stimulus", which is too close to being a rounding-error in an economy of this size to stimulate anything, is a slush fund bound for the President's friends....

New numbers from the Bureau of Labor Statistics show the unemployment rate has dropped from 7.9 percent to 7.7 percent.

Total nonfarm payroll employment rose by 146,000 in November, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in retail trade, professional and business services, and healthcare.

Economists had predicted the unemployment rate would go up as a result of Hurricane Sandy. BLS said the storm didn't have a large impact on the new statistics.

Hurricane Sandy made landfall on the Northeast coast...