Jobless Rate Falls To 7%, A 5-Year Low

The unemployment rate fell to 7 percent, the lowest level since 2008, as the U.S. economy added 203,000 jobs in November, according to government data released Friday. November’s employment gains, released by the Bureau of Labor Statistics, beat Wall Street expectations. Four consecutive months of strong hiring have cut the unemployment rate to a 5-year low. The unemployment rate dropped from 7.3 percent to 7 percent. Consumer spending also ticked up in October, the government said, despite mo...