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Transcripts For CNNW The Situation Room With Wolf Blitzer 20111203

the american economy has created in the private sector jobs for the past 21 months in a row. that s nearly three million new jobs in all. more than half a million over the last four months. so we need to keep that growth going. there are some new signs of life in the u.s. job market. with a strong showing in november that caught a lot of the analysts by surprise. the labor department says employers added 120,000 jobs helping push down the unemployment rate from 9% in october to 8.6%. that s the lowest level in almost three years. but there s more to it than meets the eye. lisa sylvester standing by with more. so what s the story behind these latest numbers? okay, wolf. we re going to talk you through the numbers. first, the positive news. unemployment, as you mentioned, it did tick down from 9% to 8.6% in the month of november. that is very good news. and if you take a look at it in terms of the jobs created, 120,000 jobs that is higher than what economists were estimat

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