U.S. Economy Adds 146,000 Jobs, Rate Falls to 7.7% - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

U.S. Economy Adds 146,000 Jobs, Rate Falls to 7.7%

Posted: Updated:

It turns out Superstorm Sandy didn't have as much of an impact on the employment picture last month as economists had expected.

The government says the storm played only a minimal role, as the economy added 146,000 jobs and the unemployment rate fell to 7.7%. Hiring remained steady during the storm.

Still, there were signs that the storm disrupted economic activity. Construction employment dropped 20,000. And weather prevented 369,000 people from getting to work. They were still counted as employed.

The government also says there were fewer jobs added in the previous two months than it had estimated earlier.

The unemployment rate fell from 7.9% in October mostly because more people stopped looking for work and weren't counted as unemployed.

Nevada Senator Harry Reid released the following statement on the November employment report:

"While too many Americans in Nevada and across the country continue to struggle, there is no doubt our economy is moving in the right direction. The only question is whether Republicans will jeopardize the progress made so far by forcing a $2,200 tax hike on middle class families, or initiating another destructive fight over the debt ceiling.

"The steps we need to take to keep our economy moving in the right direction are simple. Speaker Boehner should pass the Senate's middle-class tax cut bill immediately, and Senator McConnell should allow an up-or-down vote on his own proposal to give the President the authority to avoid default by raising the debt ceiling.

"If Republicans refuse to take these simple steps, their focus will be clear:  they are more interested in appeasing the Tea Party than protecting the middle class."

Powered by Frankly
All content © Copyright 2000 - 2018 Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.