U.S. Unemployment Hits Two-Year Low
The national unemployment rate fell to 8.6 percent in November, the lowest since early 2009, the Bureau of Labor Statistics reported.
The economy added 120,000 jobs during the month, led by a gain of 50,000 positions in retail. Job gains were also seen in leisure and hospitality (22,000), professional and business services (up 33,000), and health care (up 17,000).
The Dow Jones Industrial Average was up about 97 points to 12,116 several hours after the bureau's announcement.
The number of unemployed people fell to 13.3 million, down 594,000 from October, while the number of long-term unemployed (unemployed 27 weeks or longer) remained steady at 5.7 million.
The bureau revised job creation numbers upward for the previous two months. October's numbers were pushed up from 80,000 to 100,000 and September was revised from 158,000 to 210,000.
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