Payrolls grew by 86,000 in November after rising 171,000 the prior month, according to the Bloomberg survey median ahead of Labor Department figures due tomorrow. The unemployment rate held at 7.9 percent, economists predicted.
Employment probably took a hit from Sandy, the largest Atlantic storm ever to hit the nation and one that left about 8 million homes and businesses without power for days after making landfall in the Northeast on Oct. 29.
Benefits Rolls
Today’s report showed the number of people continuing to receive jobless benefits dropped by 100,000 to 3.21 million in the week ended Nov. 24.
The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.
Those who’ve used up their traditional benefits and are now collecting emergency and extended payments decreased by about 111,000 to 2.05 million in the week ended Nov. 17.
The unemployment rate among people eligible for benefits, which tends to track the jobless rate, fell to 2.5 percent in the week ended Nov. 24 from 2.6 percent in the prior week.
Thirty-six states and territories reported a decline in claims, while 17 reported an increase. These data are reported with a one-week lag.
Initial jobless claims reflect weekly firings and tend to fall as job growth -- measured by the monthly non-farm payrolls report -- accelerates.
Hostess Firings