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Employment Growth Quickens, Jobless Rate At 7.7 Percent

Friday, December 7, 2012 - 8:34 AM
WASHINGTON (Reuters) – Employment grew faster than expected in November, but a drop in the unemployment rate to nearly a four-year low as people gave up the search for work suggested the labor market was still tepid. Policymakers at the Federal Reserve who meet on Tuesday and Wednesday are not expected to take much notice of the report. "The Fed will want to do what it can to keep monetary policy easy. They would not want to do anything right now that would be a monetary tightening," said Jerry Webman, chief economist at Oppenheimer Funds in New York.

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