U.S. unemployment drops to 8.6 per cent - Macleans.ca

U.S. unemployment drops to 8.6 per cent

Surprise dip reflects growth of both economy activity and the number of Americans exiting the workforce


The U.S. economy delivered an unexpectedly low unemployment rate in November, at 8.6 per cent from 9 per cent in October. The number of new jobs, which comes from different data from the U.S. Labor Department, at 120,000, fell just short of economists’ expectations of 125,000 new openings. The surprise drop in the unemployment rate reflects both a pick-up in economy activity and growing number of Americans who’ve given up looking for a job aren’t therefore counted as “unemployed.”

Financial Times

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U.S. unemployment drops to 8.6 per cent

  1. “Unexpectedly” is the key word in this article. The government does not create jobs-it creates the enviornment for business to create jobs. This administration has done nothing to create that enviornment. Keystone is a perfect example. There is no “pickup” in economic activity, it just reflects the amount of people who have given up or whose UI benefits have run out and are no longer counted as unemployed. True unemployment and under employment in this country is still hovering around 16%. It would come as no surprise to me if the majority of the 120K new jobs created were in the Obama re-election committee. This man has absolutely no shame in his flagrant bid for reelection. Unemployment stubbornly stayed at 9% for months and all of a sudden dropped by half a point? Give me a break. If Obama can continue to fabricate these type of numbers, we should have 0% unemployment by November 2012. Just in time for the election. What a coincidence!!

    • Gee. Almost as if things take time to have an effect.

      Who’da thunk?

      Certainly not you.