Unemployment Slips to 8.6% as Private Sector Adds Jobs

The U.S. labor market made modest gains in November as private employers continued to add jobs and the unemployment rate fell to its lowest level since March 2009.

Nonfarm payrolls rose by 120,000 last month, the Labor Department said Friday. New data also showed bigger job gains for October and September than previously estimated, painting a more positive picture of job growth in recent months than previously thought.

The jobless rate, obtained by a separate survey of American households, fell to 8.6% in November from the previous month's 9.0%. The drop, however, was partly because of a shrinking labor force, with fewer people seeking jobs. Economists viewed the figures as a sign the U.S. recovery

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- Posted: 2011-12-02 11:00:28

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