Payroll Growth Strong in Nov, Consumer Sentiment Weak in Dec

by Patrick Lunsford, CollectionIndustry.com

The U.S. Labor Department reported Friday an increase of 132,000 workers on the nation?s payrolls in November. The much-anticipated report cast the flagging economy in a somewhat better light.

The payroll numbers exceeded analysts? expectations, with most prognosticating an increase in the low 100,000s.

Even with the increase in payrolls, the unemployment rate rose to 4.5% from 4.4% last month. Counter to this was a revision to October and September?s payrolls numbers which added a net of 42,000 jobs over the two months.

In other economic releases Friday, the University of Michigan announced that their respected Consumer Sentiment Index fell to 90.2 in December, from a reading of 92.1 the previous month.

Economists were caught off guard by the numbers. Most had predicted the index to show slight improvement, to around 92.5.