Saturday, December 3, 2011

US unemployment rate falls sharply to 8.6%

The US unemployment rate dropped sharply to 8.6% in November, its lowest level in two-and-a-half years, from 9% the month before, official figures show.

One of the reasons for the sharp drop in the unemployment rate in November was the large number of people who gave up looking for work, and therefore were no longer counted as part of the workforce.

The unemployment figures come one day after data showed the pace of growth in the US manufacturing sector in November grew at its strongest pace since June.

The Institute for Supply Management said its index of factory output rose to 52.7 from 50.8 the month before.

Source: http://www.bbc.co.uk/news/business-16005502

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