Unemployment climbs to 9.8% in the U.S. Only adds 39,000 jobs

Employers added jobs Fewer Than forecast in November and the Unemployment rate unexpectedly increaser, underscoring the Federal Reserve's decision to pump more money Into the economy to spur growth.

Payrolls INCREASED 39.000, Less Than The Most pessimistic projection of Economists survey by us, after a revised 172.000 Increase the prior month, Labor Department figures today Eichmann in Washington. The jobless rate rose to 8.9 Percent, the Highest Since April, while earnings stagnate and Worked hours.

Stocks Decline and Treasury securities as the report Eichmann Jumped Payrolls Are not growing fast enough to reduce the jobless rate, one reason why Fed policy makers Announced a new round of Monetary stimulus. More Jobs Are Needed to Sustain the holiday-season input gains in Consumer Spending, The Biggest part of the economy, Into the new year.

"The labor market is Not turning around, and that's key to the recovery overalls," Said David Semmens, U.S. economist at Standard Chartered Bank in New York. "Anyone Who Feels That ACTED Perhaps the Fed is definitely going too prematurely to Have to Eat Their Words."

Futures on the Standard & Poor's 500 Index expiring this month dropped 0.7 Percent to 1,214.02 at 8:50 a.m. in New York. The benchmark 10-year Treasury note rose, pushing the yield down to 2.93 Percent 2.99 Percent from late yesterday.

Private Payrolls

That Private Payrolls Also exclude Government agencies Gained Less Than forecast, rising by 50.000 in November. Economists 160.000 Project to gain, the survey Eichmann.

The WAS Unemployment rate forecast to hold at 9.6 Percent, According To mediate the prediction of 83 Economists survey by us. Estimates ranged from 9.4 Percent to 9.7 percent.

Manufacturers cut jobs for a Fourth straight month, Payrolls dropped at construction companies and Government Employment decline.

Overall Payrolls Were forecast to climb by 150,000, According To the survey median, with Estimates ranging from 75.000 to 200.000. The October figure revised up from an WAS INITIALLY Reported gain of 151.000.

Manufacturing Payrolls dropped by 13.000 in November, The Most in three months. Economists Projected Had an Increase of 5.000.

Construction Payrolls

Employment service-providers at 54.000 INCREASED. The number of temporary Workers rose 39.500. Construction companies and retailers subtracter 5.000 Workers 28.100 Workers let go.

Average hourly earnings in November Were $ 22.75 from $ 22.74 in the prior month, today's report Eichmann.

Government Decreased Payrolls by 11,000. State and Local Governments Employment Reduced by 13,000, while the Federal Government added 2.000 jobs.

New York City, Facing a $ 3.3 billion deficit in next year's budget, will cut workforce by more Than STI 10.000 over the next year-and-a-half, Mayor Michael budget office Said Nov. 18. More than 6.200 Workers Will Be Fired, and the remainder of the cuts will Be Made Through attrition, His office said.

The average work week for all Workers held at 34.3 hours.

The So-Called underemployment rate - Which includes part-time Workers who'd prefer a full-time position work and people Who Want to Have Given Up But looking - held at 17 percent.

Rate underemployment

The Eichmann Also report an Increase in the number of long-term Unemployed Americans. The number of people Unemployed for 27 weeks or more INCREASED as a Percentage of all jobless, to 41.9 Percent, the Highest Since August.

One reason why isn't Hiring Gaining speed is the economy's Inability to match the pace of recovery's Earlier growth. Gross domestic product expanded at annual rate to 2.5 Percent in the third quarter, half the pace in the last three months of 2009.

Also it'll take time to make up for the loss of More Than 8 million jobs, a result of the worst recession Since the 1930s.

Fed policy makers last month Began BUYING Treasury securities as part of a plan to pump as much as $ 600 billion more Into the Financial System in a bid to keep Interest Rates low and spur growth. Chairman Ben S. Bernanke Has Been Among Those Saying the recovery has-been too slow, too high and paro Keeping Leading to a deceleration in inflation That raises the Risk of deflation, or Damaging Sustainable and price decreases.

In an Effort to Reach Out to Some of the nation's largest Employers, President Barack Obama met with Wal-Mart Stores Inc. Chief Executive Officer Mike Duke at the White House on Nov. 29. The meeting is one of a series of sessions Aimed at soliciting the views of companies, with the goal of spurring the recovery and Adding jobs.