The official blog of Abacus Group — a place to share our knowledge and thoughts on trends in recruiting

December 06, 2011

Unexpected Hiring Increase Reduces Unemployment Rate to 8.6%

On Friday, the Department of Labor reported an unexpected 0.4% increase in employment, marking the sharpest improvement in eleven months, according to >Reuters. Despite economic forecasts of an unemployment rate of 9.0% for November, an impressive 120,000 new jobs were created last month, which represents a 20% increase over jobs created in October, per the >New York Times. The report also revised its figures for September and October to account for an additional 72,000 jobs added during those months. The majority of job growth transpired within the retail and healthcare industries and reflects both permanent and temporary staffing. Government jobs, on the other hand, suffered cuts. Although more substantial economic recovery is not expected to take place for quite some time, Friday’s report shows that employment has grown for four consecutive months. This news may provide comfort to those professionals who are actively pursuing new employment.

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