Wells Fargo Weekly Economic and Financial Commentary, Dec. 7 2012

In this issue:

Shaking Off Hurricane Sandy

· Employers added 146,000 jobs in November, which squarely beat expectations that looked for hiring to be hit by Hurricane Sandy. The jobless rate fell to 7.7 percent as fewer people looked for work.

· Activity in the manufacturing sector looks to have weakened in November, with the ISM manufacturing index falling to 49.5. This marks the fourth sub-50 reading in six months. Activity in the rest of the economy looked stronger, with the ISM nonmanufacturing index rising to 54.7

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