A just published article by Neil Irwin in the Washington Post is titled ‘U.S. unemployment rate falls to 8.6% in Nov.: 120K jobs added’ – reading time 3 minutes.

This article was (I say ‘had to be quickly’) written following release this morning of a report by the U.S. Bureau of Labor Statistics.  You can read that report by clicking here.  I think not surprisingly, the Dow is up 100 points at 10:10 a.m. Eastern Time this morning – one factor in this index increase perhaps being that unemployment rate announcement.

I am not going to reach any hasty conclusions, but rather will comment on the U.S. unemployment rate in my e-mail this coming Monday.  That said, I am skeptical that a net jobs added number of 120,000 could affect the reported unemployment rate by 4/10ths of one percent unless a tremendous number of Americans have dropped out of the number of those seeking work.  More on Monday.

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