This morning's employment report from the Department of Labor showed non-farm payrolls of 146,000 were added in November, which was above expectations of around 93,000. Additionally, unemployment edged down from 7.9% to 7.7% -- the lowest since December 2008. Employment increased in retail trade, professional and business services, and health care.
The report included this notice about Hurricane Sandy: Hurricane Sandy made landfall on the Northeast coast on October 29th, causing severe damage in some states. Nevertheless, our survey response rates in the affected states were within normal ranges. Our analysis suggests that Hurricane Sandy did not substantively impact the national employment and unemployment estimates for November. BLS will release the regional and state estimates on December 21st.