Business news with words department+earnings+unemployment. 3 news.

WALL Street paused from its big rally yesterday, with stocks closing narrowly mixed after the government's November labor report showed tepid job growth as well as a pickup in inflation. The major indexes ended the week higher, with the Dow Jones industrials having gained nearly 900 points over nine trading days. The Labor Department reported 94,000 jobs were added to payrolls in November and that the unemployment rate held steady at 4.7 percent. Thomson/IFR analysts had set a median projection of 100,000 new jobs. The report also showed that average hourly earnings increased 0.5 percent in November, compared with forecasts for a more-modest 0.3 percent. The report at least temporarily chilled a rally that has left the Dow only 538 points, or 3.8 percent, below the record close it reached on October 9. "I'd call it an employment letdown," said Jack A. Ablin, chief investment officer at Harris Private Bank. "A little air came out of the party balloon."

WASHINGTON (MarketWatch) - Shaking off fears about weakness in housing and credit, the U.S. economy created 166,000 net jobs in October, the best job growth since May, the Labor Department reported Friday. The unemployment rate was steady at 4.7% as expected. Job growth as measured by a survey of 400,000 businesses was stronger than the 93,000 expected by economists surveyed by MarketWatch, but a separate survey of 60,000 households showed a loss of 250,000 workers, the third decline in the past four months. Jobs continued to be lost in the manufacturing and construction sectors, offset by growth in public schools, health care, business services, food service, and temporary-help services. Average hourly earnings rose 3 cents to $17.58 an hour, or 0.2%. Average hourly earnings are up 3.8% in the past year.

WASHINGTON (MarketWatch) - Job growth came to a screeching halt in August, the Labor Department said Friday. Nonfarm payrolls contracted by 4,000 in August. This was the first decline in payrolls since August 2003. The decline was much weaker than than the 115,000 increase expected by economists surveyed by MarketWatch. The unemployment rate held steady at 4.6% in August from the previous month. Average hourly earnings increased 5 cents, or 0.3% to $17.50. This was in line with expectations. Earnings are up 3.9% in the past year. The average workweek held steady at 33.8 hours. This was also in line with expectations.