November jobs numbers are up, but economic uncertainty still rules

12/11/2012 | Los Angeles Times (tiered subscription model)

The Labor Department reported that the U.S. added 146,000 jobs last month and that unemployment fell to 7.7%, the lowest rate in four years. However, uncertainty about the country's economic state has kept activity in manufacturing stagnant and contributed to a loss of 7,000 manufacturing jobs in November. "For CEOs, the prudent thing to do when uncertain is do nothing. You don't want to be stuck with excess capacity when you get in a downturn," said MAPI's chief economist, Daniel Meckstroth.

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