November jobs report: 266,000 jobs added, unemployment at 3.5%

Mary Margaret Olohan, DCNF 

(Source: Wikimedia Commons)

The U.S. economy added 266,000 jobs in November, while the unemployment rate dropped to 3.5%, according to Department of Labor data released Friday.

266,000 jobs were added in November, according to the Bureau of Labor Statistics report — about 138,000 more jobs than were added in October.

The unemployment rate dropped to 3.5% in September, the lowest unemployment rate since December 1969.

Job growth has come back strong after February, when just 33,000 jobs were added.

The unemployment rate has held steady between 4% and 3.7% for more than a year before the April jobs report showed it drop to 3.6%. Prior to April’s report, the consistent unemployment rate suggested that workers are jumping back into the workforce to fill open jobs, rather than the workers who are currently collecting unemployment welfare, according to The Wall Street Journal.

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