Jobs Report Better Than Expected

Friday, December 7, 2012 - 11:07am

Unemployment dips to 7.7% in latest survey.

Unemployment was down a bit for November, 7.7 percent according to the latest survey from the Bureau of Labor Statistics.

146,000 new jobs were created.

The Bureau of Labor Statistics says that because of the way they count employment, hurricane sandy had little effect on these numbers.

"It looks like the job market is holding firm, which is encouraging," said Moody's economist Mark Zandi in response to the report.

Economists think it may be the push Washington needs to cut a deal to avoid the fiscal cliff.

"The more I see momentum in the economy, the more I see improvement in the job market, the more I think what a terrible idea it is to go over the fiscal cliff," says Jared Bernstein of the Center on Budget and Policy Priorities.

Staff working for President Obama and House Speaker John Boehner have resumed negotiations.

Today we may hear if they're making any progress.

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