Economic Report, December 2013

SC-WPE-DECAmerica’s employment situation improved in November

After the release of the BLS’ “The Employment Situation – October 2013” report, most economists were unsure of what to expect as they prepared to publish their employment forecasts around November’s job creation statistics. October added 204,000 new jobs to the economy – a much better than expected number – but there was a slight uptick in the unemployment rate and the unanswered question of how the government shutdown would come through in the jobless numbers still remained.

Many economists expected positive growth, predicting the nation’s jobless rate would decline slightly in November with roughly 180,000 new jobs added. But, in spite of the positive outlook, their projections were actually not high enough.

SC-DEC-WPEAccording to the BLS’ “The Employment Situation – November 2013” report, 203,000 new jobs were created last month, the second consecutive month in which more than 200,000 jobs were generated. Total employment also increased, and unemployment declined leading to a reduction in the nation’s jobless rate. Measured at seven percent, November’s unemployment rate was the lowest in five years.

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