November jobs report: Unemployment rate up

The government's monthly labor report threw a curve ball Friday morning as November's job growth came in far lower than expected and the unemployment rate rose to 9.8%.

U.S. employers added 39,000 jobs to their payrolls in November, the Labor Department reported. That marks a major slowdown from October, when the economy added an upwardly revised 172,000 jobs.

November's numbers also fell short of the 150,000 gain that economists surveyed by CNNMoney.com were expecting.

"The overall pace of job growth is disappointing," said Wells Fargo Chief Economist John Silvia, who had forecast a gain of 130,000 jobs in the month.

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- Posted: 2010-12-03 12:16:43

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