Government data shows slow jobs improvement

A new report showed middling growth for the U.S. jobs market, though it could provide some Americans with the financial confidence they need to hire moving companies.

The Labor Department reported that employment edged up by just 39,000 jobs in November, adding that the nation's unemployment rate actually increased to 9.8 percent after holding firm at 9.6 percent for three months. The healthcare and temporary work industries continued to post strong gains in employment while retail outlets shed 28,000 jobs last month. Meanwhile, the number of long-term unemployed Americans remained relatively flat at 6.3 million, making up 41.9 percent of all jobless workers.

In November, the private sector saw employment grow by 50,000 jobs, while the government lost 11,000. The report fell short of most expectations and was also well off results from October, when the Labor Department reported that the country added 172,000 jobs. Experts say moving activity won't pick up significantly until the jobs market improves.

One analyst speculated that October's report may have given many the determination to apply for jobs after months of not trying, which would have inflated the unemployment rate.

"Some discouraged job seekers were encouraged to come back into the labor search. In the end, they were greatly disappointed when they could not find work," Sal Guatieri, senior economist with BMO Capital Markets, told CNNMoney.
 

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