Hiring slowed sharply as unemployment rate climbed to 9.8% in November. Retailers, factories, construction companies, financial firms and the government all cut jobs. Paul Dales, U.S. economist for Capital Economies, said that they economy is going nowhere when companies are not willing to boost hiring. This marks the 19th straight month that they jobless rate has been above 9%. Mark Zandi expects the nation's unemployment rate to move above 10%. Analysts say that the economy would need to add 200,000 to 300,000 a month to make a dent in the unemployment rate. Economists say the the economy is flashing signs of stronger growth in the final months of the year.
http://www.msnbc.msn.com/id/40489052/ns/business-eye_on_the_economy/
In the article it said that there were some 15.1 million people that were unemployed last month. I find that to be crazy. They were talking about the jobs that were created this month were lower then last month. They talked of how that was crazy. I don't see how it can be. If they added a lot of jobs in October, not as many jobs in the factories and companies are available to create more jobs for those that don't have work. I agree with Zandi in the fact that unemployment rate will continue to rise in the next few months. I think that we need to start small and work our way up to adding around 250,000 jobs a month. If we try to do it all at once, I think that it will really hurt our economy.
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