U.S. unemployment hits lowest rate since March 2009

The U.S. unemployment rate fell fourth-tenths of a point to 8.6 percent in November, the lowest rate since March 2009.

During the month, nonfarm payroll employment rose by 120,000. Employment continued an upward trend in industries of retail trade, 50,000 jobs; leisure and hospitality, 22,000 jobs; professional and business services, 33,000 jobs; and health care, 17,000 jobs. But government employment continued its downward trend with a loss of 5,000 jobs, according to data released today by the U.S. Bureau of Labor Statistics.

The number of unemployed in the country, 13.3 million, was down by 594,000 in November.

According to the release, average hourly earnings for all employees on private nonfarm payrolls decreased by 2 cents, or 0.1 percent, to $23.18. The decrease followed a gain of 7 cents in October.  Average hourly earnings have increased by 1.8 percent during the past year.[[In-content Ad]]