When you consider that everyone assumed the November Jobs Report would be dismal this month due to the affects of Hurricane Sandy (dismal being under net 50,000 jobs being created accompanied by an increase in unemployment), indeed, the weekly unemployment figures spiked in mid-November due to Sandy-related job loss, the following is just a wonderful report:
The Bureau of Labor Statistics reports that the U.S. economy added 146,000 jobs in November, nearly double the projections. What’s more, the overall unemployment rate dropped to 7.7%, its lowest point in four years.