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U.S. unemployment rate drops to lowest level

U.S. unemployment rate drops to lowest level

07 January 2012 08:52 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. The U.S. added 200,000 jobs and its unemployment rate dropped to 8.5 percent in December, the government said Friday, in a sign that the slow economic recovery is gaining traction.

The report was tempered by the harsh fact that the nation needs to create even more jobs each month to put 23.7 million unemployed and underemployed back to work. But many economists were heartened. The nation, which needs an estimated 150,000 new jobs a month to keep up with the natural growth of the labor force, has added positions only slowly since the devastating recession technically ended more than two years ago.

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