Unemployment Drops to 4.6 Percent

4.6%

“U.S. employers hired at a steady clip in November while the unemployment rate fell to the lowest level in nine years, signs of enduring labor-market growth that will likely leave Federal Reserve officials on track to raise interest rates later this month,” the Wall Street Journal reports. “Nonfarm payrolls rose by a seasonally adjusted 178,000 in November from the prior month, the Labor Department said. The unemployment rate dropped to 4.6% from 4.9% in October as some people found jobs while others dropped out of the workforce. At 4.6%, the rate is the lowest since August 2007. Economists expected 180,000 new jobs and a jobless rate of 4.9% in November.”

Leave a Reply

Your email address will not be published. Required fields are marked *