The recovery that wasn’t continues at breakneck speed.
NEW YORK (CNNMoney.com) — The economy continued to add jobs last month, but at a much slower pace than expected, while the unemployment rate rose to 9.8%.
U.S. employers added 39,000 jobs to their payrolls in November, the Labor Department reported Friday. That marks a major slowdown from October, when the economy added an upwardly revised 172,000 jobs.
November’s numbers also fell short of the 150,000 gain that economists surveyed by CNNMoney.com were expecting.
And what would an Obama loving news outlet story on unemployment be without the “U” word:
The unemployment rate, which is calculated in a separate survey, unexpectedly ticked up to 9.8% after holding at 9.6% from the prior three months, the government said.