US Unemployment Drops to 8.6 Percent

The Bureau of Labor Statistics today released the monthly employment report and things are looking up.

The unemployment rate fell by 0.4 percentage point to 8.6 percent in November, and nonfarm payroll employment rose by 120,000, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in retail trade, leisure and hospitality, professional and business services, and health care. Government employment continued to trend down.

In November, the unemployment rate declined by 0.4 percentage point to 8.6 percent. From April through October, the rate held in a narrow range from 9.0 to 9.2 percent. The number of unemployed persons, at 13.3 million, was down by 594,000 in November. The labor force, which is the sum of the unemployed and employed, was down by a little more than half that amount.

Total nonfarm payroll employment increased by 120,000 in November, in line with the average gain for the prior 12 months (+131,000). The private sector added 140,000 jobs, as employment rose in a number of service-providing industries. Government employment continued to trend down.

Read the report here.

  7 comments for “US Unemployment Drops to 8.6 Percent

  1. junior
    December 2, 2011 at 12:19 pm

    Wow – whoopeedoo!

    It dropped because over 300,000 people got discouraged over dismal employment opportunities and stopped looking for non-existant jobs.

    BFD – it might drop to 7.6% if a million more drop out of the employment seeking picture – will that make you happy as well?

    • Steve
      December 2, 2011 at 1:40 pm

      I’m sure that having doomsayers like you around is awfully encouraging to the unemployed. Way to bring some positive energy to the table!

      • junior
        December 2, 2011 at 7:35 pm

        Steve,

        You can consider my comment as “tough love.”

        Many need a jolt back to reality – more government is not the answer to what ails this economy.

  2. gabriel san roman
    December 3, 2011 at 8:55 pm

    Did the unemployment rate fall for Blacks, Latinos, women, & teenagers?

    (Rhetorical question)

  3. john pizzo
    December 4, 2011 at 4:34 am

    Who runs the Dpt of Labor…….oh, that’s right, The Liar-in-Chief.

  4. gabriel san roman
    December 4, 2011 at 11:14 am
  5. MikeM128
    December 5, 2011 at 6:35 pm

    Once people are not eligible for unemployment payments they are no longer unemployed just dead beats. As long as the government uses that standard to determine if someone is unemployed, it is bound to improve.

    I love the “Rhetorical question”. Of course unemployment has not fallen for Blacks, Latinos, women and children. Nobody wants to create an environment friendly to business to allow them to be employed.

    As for all those of you underemployed out there, congrats on taking the jobs flipping burgers when you used to be accountants, factory workers, etc…. At least you are helping to improve the unemployment statistics.

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