Lower Unemployment in Nov.? Yes, But....

An increase in the long-term unemployed is another bad sign.

The U.S. economy continues to add jobs, but not at a pace that signals a strong recovery.

We expect this year's pace of job creation -- 130,000 a month through November -– to accelerate to only 150,000 a month next year, adding up to 1.8 million new jobs. That should move the unemployment rate, which has averaged 9% this year, down to about 8.5% at end of next year.

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Jerome Idaszak
Contributing Editor, The Kiplinger Letter
Idaszak, now retired, worked on The Kiplinger Letter as its economics writer for 21 years. Before joining Kiplinger in 1992, he worked for 15 years with the Chicago Sun-Times, including five years as a columnist and economic correspondent in the Washington, D.C., bureau, covering five international economic summit meetings. He holds bachelor's and master's degrees in journalism from Northwestern University.