Jobs uptick reported in November

The economy added 94,000 jobs in November, according to a Department of Labor report.
DEC 07, 2007
The economy added 94,000 jobs in November, according to a Department of Labor report. Meanwhile the unemployment rate held steady at 4.7% for the third consecutive month as wages posted strong growth. The report increases investors' expectations that the Federal Reserve will cut interest rates again at its meeting on Dec. 11. The number of jobs added in October was revised up to 170,000 from166,000. However, the estimate for new jobs added in September was cut to 44,000 from 96,000. Average hourly earnings increased eight cents, or 0.5%, to $17.63, dipping slightly from a reading of $17.69 last November.

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