The agency adds that "the 4-week moving average," which tends to smooth out some of the volatility that comes with the weekly figures, "was 356,750, a decrease of 11,250 from the previous week's revised average of 368,000."
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.
7.7 percent, that's the current unemployment rate. It's a full percentage point lower than this time last year. That sounds like progress, a modest number of new jobs are being added every month. But labor force participation, a measure of both people who are working and those who are actively looking for work, is at its lowest point in three decades.
Hurricane Sandy's effect on the nation's unemployment figures was less pronounced than expected. The reasons are complex, but one thing is clear: Thousands of victims are still struggling to rebuild their lives and get back to work.
Danielle Siekierski was tending bar at a restaurant in Manhattan's Meatpacking District before Sandy hit. When the restaurant was damaged in the storm, the workers were told it might be a week before it reopened.
Originally published on Wed December 12, 2012 12:56 pm
By Jacob Goldstein
Credit Brendan Smialowski / AFP/Getty Images
The leaders of the Federal Reserve just did something that sounds boring but is actually a big deal: They promised to keep short-term interest rates at zero at least until the unemployment rate falls below 6.5 percent, or inflation rises to over 2.5 percent.
It's clear on its face why this sounds boring. It takes a little doing to explain why it's a big deal.