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December 3, 2004
WASHINGTON -- The government said Friday that employers weren't hiring as briskly last month, while the unemployment rate declined by 0.1 percentage point to 5.4 percent.
The Labor Department said payrolls grew by 112,000 jobs in November. It was the weakest gain in five months and about half of what economists had forecast.
The government also revised lower jobs growth numbers for the two previous months.
Underscoring the less-than-hoped-for report, there was also word that manufacturing employment dipped for a third straight month, shedding 5,000 jobs.
Still, the overall, seasonally adjusted civilian unemployment rate dropped fractionally - by 0.1 percentage point - to 5.4 percent, as more people looking for work found jobs, the Labor Department reported Friday.
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