The jobless rate in the U.S. dropped to 8.6 percent in November, a decline of 0.4 percent from the 9 percent the month before and the lowest unemployment rate since March 2009, the Labor Department said Friday.
Overall, payroll employment increased by 120,000 jobs last month, making November the 21st straight month the private sector has added jobs, for a total of 2.9 million jobs over that period.
About half of the drop in unemployment was due to people leaving the labor force (-315,000) and about half to employment growth (+278,000), a statement from the White House said.
Employment increases in November were observed in several sectors, including retail trade (+50,000), professional and business services (+33,000), leisure and hospitality (+22,000), health care and social assistance (+19,000), and manufacturing (+2,000). The temporary help services industry also posted an increase of 22,300, the fifth month in a row.
Sectors with employment declines included government (-20,000) and construction (-12,000). State and local governments lost 16,000 jobs and have shed 430,000 jobs since February 2010.
Nothwithstanding the signifiant drop in the unemployment rate, nearly 15 million Americans still remain out of work.
