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November's economic numbers: Not so bad |
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Written by asap
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Friday, 08 December 2006 |
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 The housing market and auto industry may be slumping, but the labor force appears to be OK.
Businesses hired about 132,000 people in November, much higher than economists expected. The unemployment rate ticked up from 4.4 percent to 4.5 percent, but analysts believe that to be a reflection of people flooding the market because job prospects look good.
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DOLLARS AND SENSE
Other tidbits from Friday's Labor Department announcement:
— Average hourly earnings rose to $16.94 , a 0.2 percent increase from the prior month. Economists were forecasting a slightly bigger rise of 0.3 percent.
— Over the last 12 months, wages grew by a strong 4.1 percent.
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BUSH LEAGUE
Despite the solid stats, President Bush's governance of the economy is not held in high regard by most Americans. The president's approval rating on the economy sank to 38 percent in December, down from 43 percent in November, according to an AP-Ipsos poll.
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