Jobs Report Surpasses Expectations
Posted at 9:34 a.m. on Dec. 7, 2012
The Bureau of Labor Statistics reported an increase in non-farm payroll employment by 146,000 and a decrease in the unemployment report to 7.7%, surpassing consensus expectations of 80,000 jobs and an uptick in the unemployment rate.
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Bill McBride: “With all the uncertainty about the impact of Hurricane Sandy, this was a decent report, especially with the decline in the unemployment rate. However, negatives include the downward revisions to prior months, and the decline in the participation rate.”