U.S. economy added 178,000 jobs in November. The unemployment rate fell to 4.6% from 4.9% – a nine-year low – while average hourly wages rose 2.5% over the past 12 months. Businesses added 156,000 jobs, led by professional and business services.
The data showed that 4.52 million Americans who entered the labor force got jobs in November, up 575,000 from October. This is the biggest monthly increase since 1990.
The unemployment rate fell from 4.9% to 4.6%, lowest since August 2007 because more people found work, but also because the labor force shrank as more people retired.