US unemployment lowest in 9 years

AFP, WASHINGTON: The US unemployment rate in November fell to its lowest level since August 2007 as the economy continued to add new jobs, all but guaranteeing an interest rate hike this month.
The jobless rate fell an unusually large three-tenths to a surprising 4.6 per cent, the Labor Department reported Friday.
A solid 178,000 net new positions were created, in line with analysts' expectations. The economy has added jobs at an average rate of 180,000 a month so far this year, a healthy pace but below the 229,000 rate in 2015.
The big drop in the unemployment rate was a shock as it had moved little over the prior year. 
The number of people in the workforce -- the labor force participation rate -- was also little changed at 62.7 per cent.
Private firms added 156,000 in the latest month, with continued gains in construction, healthcare and leisure.

US unemployment lowest in 9 years

AFP, WASHINGTON: The US unemployment rate in November fell to its lowest level since August 2007 as the economy continued to add new jobs, all but guaranteeing an interest rate hikethis month. The jobless rate fell an unusually large three-tenths to a surprising 4.6 per cent, the Labor Department reported Friday. A solid 178,000 net new positions were created, in line with analysts expectations. The economy has added jobs at an average rate of 180,000 a month so far this year, a healthy pace but below the 229,000 rate in 2015. The big drop in the unemployment rate was a shock as it had moved little over the prior year. The number of people in the workforce -- the labor force participation rate --was also little changed at62.7 per cent. Private firms added 156,000 in the latest month, with continued gains in construction, healthcare and leisure.