The U.S. economy added 57,000 jobs in
November, fewer than expected, and the unemployment rate declined
to 5.9 percent. The rise in payrolls was restrained by a strike
and the 40th straight decrease in manufacturing jobs.
“Generally the job picture is positive, but it’s not robust
at this point,” said Robert Hormats, vice chairman of Goldman
Sachs International, in a radio interview with Bloomberg News.
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The unemployment rate fell from 6 percent in October and the
fourth straight gain in payrolls was held down by as many as
30,800 jobs because of a grocery workers strike, the Labor
Department said in Washington. Factory orders rose 2.2 percent in
October after the economy grew last quarter at the fastest pace in
19 years, the Commerce Department reported.
More companies added workers to payrolls last month than at
any time in the past three years, the report showed. Factories are
still losing jobs in part because productivity surged last quarter
at the fastest rate in two decades.
Bloomberg News
