|November Job Growth Pushes Unemployment Rate Down to 7.0 Percent|
The Labor Department reported the economy added 203,000 jobs in November after adding a revised 200,000 in October, the first time the economy has seen consecutive months of 200,000 plus job growth since November and December of last year. The strong job growth led to a drop of 0.3 percentage points in the unemployment rate to 7.0 percent. This drop was due to increased employment as the employment-to-population ratio (EPOP)rose by 0.3 percentage points to 58.6 percent, reversing a fall of the same amount reported for October.
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