Unemployment dips to rate of 8.6%
The U.S. Bureau of Labor Statistics Friday morning reported the lowest national unemployment rate since March 2009.
The November rate of 8.6% is down 0.4 percentage points from 9.0% in October. A year ago, the unemployment rate stood at 9.8%, according to the bureau.
The employment situation report showed that the private sector added 140,000 jobs, as employment rose in a number of service-providing industries. Government employment continued to trend down.
Since reaching an employment trough in December 2009, retailers have added an average of 14,000 jobs per month. However, construction employment showed little movement in November. Employment in the construction industry has shown little change, on net, since early 2010.