US jobless rate drops but crisis continues | Bangkok Post: news

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US jobless rate drops but crisis continues

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The US unemployment rate slipped to a December 2008 low in November but the job market remains stuck in a grinding crisis, government data released Friday shows. 

A job seeker picks up a flier before meeting with a recruiter in July 2012 in San Francisco, California. The three-month average of 139,000 added jobs remained well below the estimated 250,000 pace needed on a sustained basis to significantly reduce unemployment.

The Labor Department's monthly jobs report was better than expected, with the jobless rate dropping to 7.7 percent from 7.9 percent in October and job growth picking up.

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