Unemployment Still A Drag

Thursday, December 1, 2011 - 4:31pm

Weak job market casts shadow over more positive economic numbers.

New reports indicate that despite a global slowdown in growth, manufacturing in the U.S. is up overall.

A report by the Institute for Supply Management shows new orders in factories for computer and electronics, wood and textiles rose last month.

Consumers are showing the most confidence when it comes to spending.

Holiday sales for Black Friday proved that.

Shoppers spent a record $52 billion on gifts.

'Tis the season to buy cars and trucks as well.

Chrysler reported a 45 percent jump in sales from a year ago.

Nissan was up 19 percent, with General Motors cruising in with a seven percent increase.

When it comes to hiring, the outlook isn't as festive.

New jobless claims were higher than expected last week and businesses are slowly adding to their payrolls.

The stock market is also riding a roller-coaster due to the global slump and Europe's credit crisis

"We hear continued worry, verging on almost a sense that its inevitable, that Europe is going to have a significant crash," says THL Partners co-president Scott Sperling.

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