Economists had high hopes about the new monthly jobs report, but those hopes fizzled when the stats came out Friday morning. Employers heartily missed expectations in regard to new hires. The details:
- New jobs: Employers added 210,000 jobs in November, well below expectations that were well north of 500,000, reports the AP. It's the lowest figure in about a year.
- The rate: The unemployment rate actually fell, however, from 4.6% to 4.2%.
- Big hit: The leisure and hospitality industries, which had been driving jobs growth in recent months, gained just 23,000 jobs, notes CNBC.