The U.S. unemployment rate dropped to 7.7 percent in
November, according to today’s
data release from the Bureau of Labor Statistics. That was down 0.2 percent
since October, and was the lowest rate reported since January 2009. Payroll
jobs increased by 146,000 in the month, continuing a moderate but steady trend.
The unemployment rate is the ratio of unemployed persons to
the civilian labor force, based on a monthly survey of households. Both the
numerator and denominator of the ratio decreased in November. The ratio fell
because the number of unemployed persons decreased by more than the number of
the employed. Both the labor force participation rate and the
employment-population ratio decreased slightly, with both figures returning to
the values reported in September. >>>Read more
with that strength in retail hiring, it seems the seasonal adjustments threw this report off a bit...since the 12th was on a monday, and thanksgiving was early, more than normal seasonal hires were included in the establishment survey...
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