Market Report: November Jobs Report Exceeds Expectations
COLUMBIA - The US Labor Department released the November jobs report Friday. The report showed 203,000 jobs were added to the US Economy in the month of November. Many people were suprised by these numbers because experts initially predicted the report would show 183,000 jobs would be added.
The Dow and S&P 500 were lower for the first time in eight weeks.
The Dow was off .4% at 16,020 and the S&P was off .4% at 1,805.
The Nasdaq finished .06% higher at 4,062.
November proved to be a positive month for the auto industry. Sales rose 9% over the last year and they are on pace to sell nearly 16 and a half million new cars and pick up trucks this year.
Consumer sales were lower than expected over the long Black Friday weekend. According to reports, more Americans hit the malls this year, but they spent nearly 3% less than they did in 2012. However, Cyber Monday had sales top 2 billion dollars.
Gas prices have been gradually increasing. AAA reported the national average for the price of gas increased a tenth of a cent Sunday, which is the third consecutive increase. The nation's average is $3.26.