215,000 Added to Payroll
America’s payrolls snapped out of a two-month hurricane-induced funk in November and grew by 215,000, the most since July. The unemployment rate held steady at 5 percent.
The fresh snapshot of the jobs situation by the Labor Department on Friday suggested that employers were feeling much better about hiring now that energy prices have retreated from record highs and the energy supply and transportation disruptions from the trio of Gulf Coast hurricanes are easing.
The pickup in employment in November came after two dreary months where hiring turned lethargic because of the devastating storms.
“Basically, the storm is over and we’re seeing some calmer data as a result,” David Wyss, chief economist at Standard & Poors, told CBS Radio News.
“The 215,000 is a very solid job gain, about what we’ve been averaging — we were averaging about 200,000-a- month going into the hurricane season, so this basically says it’s back, we’re doing OK,” Wyss said.
Source: KDBC.com.
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