Posted on December 07, 2012 |
Today’s release of November jobs data brought a bit of extra holiday cheer to the week. Despite what pundits expected, the new data show a healthy month of job growth and continued declines in the unemployment rate for most groups of workers.
In November, the economy added 146,000 jobs and the overall unemployment rate fell slightly to 7.7 percent, its lowest rate since December 2008. Adult women’s unemployment rate fell to 7.0 percent and adult men’s unemployment rate fell to 7.2 percent. It isn’t the fastest recovery ever, but we continue to be headed in the right direction.
But before we get too excited, there’s a catch. In November 2012, more than four in ten jobless adult workers were still looking for work after more than six months of searching, including 42 percent of jobless adult women and 45 percent of jobless adult men. These rates are about one-and-a-half-times what they were at the start of the recovery in June 2009.
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