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Unemployment Rate Drops To 8.6 Percent In November

December 2, 2011 by  

Unemployment Rate Drops To 8.6 Percent In November

The U.S. unemployment rate fell for the month of November, marking the lowest level that this number has reached in more than two-and-a-half years, The Associated Press reported.

According to the news outlet, the Labor Department announced that the rate dropped to 8.6 percent last month, a 0.4 percent decrease for the unemployment numbers from the month of October.

The rate hasn’t been this low since March 2009, but there are still 13.3 million Americans that remain without work. The AP reported that a key reason the rate dropped by such a sharp margin was that 315,000 people had given up looking for work and were no longer counted as unemployed.

Fox News reported House Majority Leader Eric Cantor (R-Va.) said that although any positive economic news is a good thing in Washington, there is still much to be done.

“During the holidays, it’s always comforting to see an uptick in seasonal hiring, but far too many people still remain out of work and the economy still faces systemic problems,” Cantor said in a statement.

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