November Labor Department reports indicate that 178,000 new jobs have been added to the United State economy, bringing unemployment down to 4,6%, the lowest rate in nine years and after seven years of consecutive private sector job creation.
“In November, the unemployment rate decreased by 0.3 percentage point to 4.6 percent,and the number of unemployed persons declined by 387,000 to 7.4 million. Both measures had shown little movement, on net, from August 2015 through October 2016”, the Bureau of Labor Statistics reported the 2nd of December.
“The solid employment gains likely reflect growing confidence in the economy, which has been marked by rising consumer spending and inflation”, a dispatch from Reuters says. “The unemployment rate fell three-tenths of a percentage point last month, hitting its lowest level since August 2007, because more people found work as well as dropped out of the labor force. The decline in unemployment was concentrated among men”, Lucia Motikani writes in the dispatch.
All analysis converge in a very likely raise of the benchmark interest rate by the Federal Reserve during their meeting in mid December.
In addition to what could be considered full-employment (down from 11% in 2008), other facts indicate that the U.S. economy performance under President Obama can be considered a success story. Here are some additional figures on the United States economy:
Read here the full report from the United States Bureau of Labor Statistics