unemployment unexpectedly falls to 4.6 in united states: thanks obama
In a stunning development, the Bureau of Labor Statistics just revealed that the US unemployment rate unexpectedly dropped to 4.6% in November. This is the lowest level since August 2007.
Economists were expecting the rate to be unchanged from October at 4.9%.
During the month, US companies added 178,000 non-farm payrolls, which was a tad lighter than the 180,000 forecast by economists. Growth was driven by private payrolls, which increased by 156,000.
Average hourly earnings increased 2.5% year-over-year, which was weaker than the 2.8% pace expected.