Daily Market Update 12/2/11

Rates were little changed Friday following the November Employment Report.  The economy added 120,000 jobs last month, slightly less than expected, but revisions to prior months added another 72,000 jobs.  The Unemployment Rate fell unexpectedly to 8.6%, although much of the decrease resulted from a 315,000 reduction in the number of people looking for work.  Average Hourly Earnings, a proxy for wage growth, declined by 0.1%.  Overall, the employment data beat forecast.  Stocks moved higher.  No other key data will be released today.

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