The Norman Transcript

Headlines

December 9, 2012

US economy adds 146K jobs

WASHINGTON — The pace of U.S. hiring remained steady in November despite disruptions from Superstorm Sandy and employers’ concerns about impending tax increases from the year-end “fiscal cliff.”

Companies added 146,000 jobs, and the unemployment rate fell to 7.7 percent — the lowest in nearly four years — from 7.9 percent in October. The rate declined mainly because more people stopped looking for work and weren’t counted as unemployed.

The government said Superstorm Sandy had only a minimal effect on the figures.

The Labor Department’s report Friday was a mixed one. But on balance, it suggested that the job market is gradually improving.

November’s job gains were roughly the same as the average monthly increase this year of about 150,000. Most economists are encouraged by the job growth because it’s occurred even as companies have reduced investment in heavy machinery and other equipment.

“The good news is not that the labor market is improving rapidly — it isn’t — but that employment growth is holding up despite all the fears over the fiscal cliff,” said Nigel Gault, an economist at IHS Global Insight.

Still, Friday’s report included some discouraging signs. Employers added 49,000 fewer jobs in October and September combined than the government had initially estimated.

And economists noted that the unemployment rate would have risen if the number of people working or looking for work hadn’t dropped by 350,000.

The government asks about 60,000 households each month whether the adults have jobs and whether those who don’t are looking for one. Those without a job who are looking for one are counted as unemployed. Those who aren’t looking aren’t counted as unemployed.

A separate monthly survey seeks information from 140,000 companies and government agencies that together employ about one in three nonfarm workers in the United States

Many analysts thought Sandy would hold back job growth significantly in November because the storm forced restaurants, retailers and other businesses to close in late October and early November.

Text Only | Photo Reprints
Headlines
  • Tornado Repair Oklahoma officials account for $9.4M in disaster spending

    OKLAHOMA CITY — Nearly a year after deadly tornadoes hit central Oklahoma, officials announced that they have spent close to $9.4 million in private donations on relief efforts....

    April 24, 2014 1 Photo

  • Moore schools receive $500K

    As Mickey Davis addressed the auditorium, the picture of a bright-eyed, happy 8-year-old on the podium in front of her could not be ignored. Davis’ son, Kyle Davis, was one of seven who lost their lives in the May 2013 tornadoes at Plaza ...

    April 24, 2014

  • Man arraigned after wife’s death

    A judge on Wednesday denied bond for a 37-year-old Norman man formally charged with stabbing his wife to death with a kitchen knife early Saturday morning in their southeast Norman apartment. Abid Sandhu, 37, was arraigned before Special ...

    April 24, 2014

  • Earth Day activities continue this week

    Oklahoma is no stranger to extreme weather, but many say those extremes are even greater than before. Norman resident and biologist Kathy Rand is convinced those climate irregularities are a result of climate change caused by pollution, ...

    April 24, 2014

  • Oklahoma court rejects death-row inmates’ claims

    Oklahoma court rejects death-row inmates’ claims OKLAHOMA CITY — The Oklahoma Supreme Court has rejected claims by two death row inmates that they’re entitled to know the source of the drugs that will be used to kill them....

    April 24, 2014

  • School to present ‘Hamlet’

    To be or not to be? That is the question Norman North High School students are answering during their production of William Shakespeare’s “Hamlet” this week....

    April 24, 2014

  • Historic house celebrates centennial

    When Fredrick Holmberg arrived in Norman more than 100 years ago, he tucked his violin beneath his arm and headed for the University of Oklahoma campus.  A century later, another violinist, Cindy Zhang, will perform at the home Holmberg ...

    April 24, 2014

  • Dorman wants bipartisan appeal

    Rep. Joe Dorman said he’s proud to be a Democrat running for governor, but he hopes to garner bipartisan support. In a visit Wednesday to the Transcript, Dorman said, if elected, he wants to work across party lines like former Gove. Henry ...

    April 24, 2014

  • ‘Frozen’ to air Friday

    Movies on Main in Blanchard will host a showing of “Frozen” at 8 p.m. Friday. The evening will include hot dogs, chips, drinks, popcorn and free movie merchandise....

    April 24, 2014

  • Safety Town registration begins Saturday

    Saturday marks the beginning of registration for Safety Town classes at Sooner Mall. Safety Town, a 37-year Norman tradition, teaches children, ages 5 and 6, the importance of bicycle, fire and personal safety. Classes are 50 minutes long ...

    April 24, 2014

Video
Facebook