Posted on 12/03/2010 10:32:58 AM PST by Fred
The US economy added a worse-than-expected 39,000 jobs in November, as the unemployment rate edged higher, underscoring the weakness of a labour market recovery that is struggling to gain traction.
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“Any thought that the Fed would scale back its QE2 purchases of Treasuries in the coming months has to be dashed by this report,” said John Ryding and Conrad DeQuadros, economists at RDQ Economics.
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“Today’s numbers underscore the importance of extending expiring tax cuts for the middle class and unemployment insurance for those Americans who have lost their jobs,” said Austan Goolsbee, head of the White House’s Council of Economic Advisers.
(Excerpt) Read more at ft.com ...
A clear sign of a recovery in full swing!
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