December 7th, 2012
08:41 AM ET

U.S. unemployment rate drops to lowest level since 2008

U.S. jobs growth for November was better than what economists predicted it would be.

The U.S. economy added 146,000 in November, according to the Labor Department, nearly twice as many as the 77,000 jobs that economists surveyed by CNNMoney had predicted in the aftermath of Superstorm Sandy.

And the U.S. unemployment has dropped to 7.7%, the lowest since December 2008, according to the Labor Department. That's down from 7.9% in October.

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Filed under: Economy • Jobs
soundoff (28 Responses)
  1. Sarah Moskalski

    I find it ironic that the numbers are down just as my unemployment has run out and when I was told last week that I could apply for an extension , but the benefits would expire December 29, 2012. Just in time for the new year and the new term!!

    December 17, 2012 at 10:57 pm | Report abuse |
    • Didi Broman

      This is what happens every time unemployment is high - the numbers are skewed as people fall off the unemployment rolls or can't be counted because they were self employed and can't claim unemployment, etc. The real numbers are always much higher, and the majority of new jobs being created are lower paying or people are only working part-time instead of full time, typically with fewer benefits. This happened under Reagan when they praised him for economic recovery, under Bush, and now it continues under Obama. I don't see it getting any better in reality unless we find a way to stop businesses from taking jobs overseas and using slave-wage foreign labor which will soon be our earnings if we let that set the precedence.

      December 18, 2012 at 10:20 am | Report abuse |
  2. JOSE--USMC-0311

    PART-TIME HOLIDAY HIRING PEOPLE. IS ONLY TEMPORALLY. YOUR GOVERNMENT DO NOT COUNT YOU AS UNEMPLOYED IF YOU ARE WORKING PART-TIME....

    December 18, 2012 at 12:48 pm | Report abuse |
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