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ECON: NFP Much Stronger Than Expected, But BLS Says No Impact From Sandy
Posted to: Micro News
Friday, December 7, 2012 8:46 AM
- NFP + 146 vs +93 Consensus
- October NFP revised to 138k from 171k
- Unemployment Rate 7.7% vs 7.9% Consensus
- Labor Force Participation Rate down 0.2 Pct, more than offsets U/E rate drop
Total nonfarm payroll employment rose by 146,000 in November, and the unemployment
rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today.
Employment increased in retail trade, professional and business services, and health
"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. For additional information on how severe weather affects employment and unemployment data, see Question 8 in the Frequently Asked Questions section of this release."
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