Unemployment rate falls to lowest level in four years - ABC 33/40 - Birmingham News, Weather, Sports

Unemployment rate falls to lowest level in four years

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The Labor Department says modest hiring continued in November, and the unemployment rate fell to its lowest level in nearly four years.  In its monthly report, it said the United States economy added 146,000 jobs in November.  Economists were predicting about half that amount. The Labor Department also reports the unemployment rate is now at 7.7 percent.  That is down from October's 7.9 percent. 

While that's the lowest unemployment rate since December 2008, it fell due mainly to workers dropping out of the labor force. The department says Superstorm Sandy, which hit in October, did not have a major impact on the national employment and unemployment estimates. 

 

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