November unemployment rate holds steady

Filed under: Daily News | Tags:,

The nation’s unemployment rate held steady at 4.7 percent during November as employers continued to hire at a moderate pace, according to a Labor Department report released late last week.

Employers added a net 94,000 jobs to their payrolls during November, down from an unexpected gain of 170,000 jobs during October.

The jobless rate has held steady at 4.7 percent for the last three months, even as troubles in the housing and credit markets have deepened.

Amid the positive job news, evidence of the housing market fallout could still be seen as construction and mortgage companies, banks, real estate firms and manufacturers all cut jobs.

The losses were offset by hiring gains in health care, retail, hotels and motels, temporary firms and computer services.