US economy adds 146K jobs, rate falls to 7.7 pct

[Danzig]

a small bit


'But the government said employers added 49,000 fewer jobs in October and September than it initially estimated.

And the unemployment rate fell to a four-year low in November from 7.9 percent in October mostly because more people stopped looking for work and weren't counted as unemployed.'

revisions downward in subsequent months make these initial reports less trustworthy. i really wish they'd seek factuality over speediness in issuing these reports.

and it's not a good sign that unemployment if artificially dropping because people stop looking, rather than because they got a job.