... unemployment fell because roughly 315000 people gave up looking for work & were no longer counted as unemployed.
Texas Insider Report: WASHINGTON D.C. The unemployment rate fell last month to its lowest level in more than two and a half years as employers stepped up hiring in response to the slowly improving economy. The Labor Department says the unemployment rate dropped to 8.6 last month down from 9 in October.
The rate hasnt been that low since March 2009 during the depths of the recession.
Employers added 120000 jobs last month. And the previous two months were revised up to show that 72000 more jobs added -- the fourth straight month the government revised prior months higher.
Still one reason the unemployment rate fell so much was because roughly 315000 people gave up looking for work and were no longer counted as unemployed.
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http://www.foxnews.com/politics/2011/12/02/unemployment-rate-falls-to-86-percent-lowest-since-march-200/print#ixzz1fO32PpKV
