The economy added120,000 jobs in November as the unemployment rate fell to 8.6%.  Productivity growth for Q3 was revised downwards to 2.3%.  The ISM index rose 1.9 points to 52.7 in November.  The Case-Shiller home price index declined 0.6% in September.  New home sales edged up 1.3% in October as pending home sales rose 10.4%.  Construction spending was up 0.8% in October.  Auto sales increased 2.8% in November.  Initial jobless claims increased 6,000 to a level of 402,000 for the week ended 11/26.

• The economy added 120,000 payroll jobs in November as the unemployment rate fell to 8.6%.  Despite the significant decline in the unemployment rate, job gains were slightly lower that the approximately 130,000 needed to keep pace with typical labor force growth.  The labor force declined by 315,000 in Novembers. The private sector added 140,000 jobs while government jobs declined by 20,000.
• Productivity growth for the 3^rd quarter of 2011 was revised downwards to 2.3%, from a previous estimate of 3.1%. 
• The ISM index increased by a greater-than-expected 1.9 points to 52.7 in November.
• The Case-Shiller home price index fell 0.6% in September and was down 3.6% from a year ago.
• New home sales edged up 1.3% to an annual pace of 307,000 units in October.
• Construction spending increased 0.8% in October.
• Pending home sales unexpectedly rose 10.4% in October.
• Auto sales increased 2.8% to an annual pace of 13.63 million units in November. Sales were up 11% from a year ago.
• Initial jobless rose 6,000 to 402,000 for the week ended November 26^th.