Unemployment drops to 4.6%, lowest since 2007
NEW YORK (CNNMoney) – America kept hiring amid election shock.
The U.S. economy added 178,000 jobs in November, the Labor Department reported Friday, and the unemployment fell sharply to 4.6% from 4.9% in October.
It’s the lowest rate since August 2007.
Unemployment has been at or below 5% for nearly a year as more people have returned to the job market and hiring has maintained momentum.
November was the 74th consecutive month America added jobs. The economy is near “full employment.”
Wages rose 2.5% in November from a year ago, though that marked a slight slowdown from October.
It’s the first major sign of the economy’s health since the surprise victory of President-elect Donald Trump.