Unemployment rate drops to 8.6%, lowest since March 2009. 120,000 payrolls added in November.

[jefferson_dem]

:bounce:

Unemployment Slips to 8.6% as Private Sector Adds Jobs

WASHINGTON—The U.S. labor market strengthened in November as private employers continued to add jobs at a healthy pace, and the unemployment rate fell to its lowest level since March 2009.

Nonfarm payrolls rose by 120,000 last month, the U.S. Labor Department reported Friday in its monthly survey of employers. Private companies added 140,000 jobs, while the public sector—federal, state and local governments—lost 20,000 jobs.

The unemployment rate, obtained by a separate survey of U.S. households, fell to 8.6% in November from 9.0% the previous month. The rate hadn't been below 9% since March, when it was 8.8%. The rate is now lower than at any point since March 2009, when it was 8.6% as well.

In another positive development, October's figure for nonfarm payrolls was revised upward to show a gain of 100,000 from a previously reported 80,000, while September was revised up to a 210,000 gain from 158,000.

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