3 Comments for this article

Tags: , , ,

By CHRISTOPHER S. RUGABER
AP Economics Writer

WASHINGTON (AP) — A burst of hiring in December pushed the unemployment rate to its lowest level in nearly three years, giving the economy a boost at the end of 2011.

The Labor Department says employers added a net 200,000 jobs last month and the unemployment rate fell to 8.5 percent, the lowest since February 2009. The rate has dropped for four straight months.

The hiring gains cap a six-month stretch in which the economy generated 100,000 jobs or more in each month. That hasn’t happened since April 2006.

For all of 2011, the economy added 1.6 million jobs, better than the 940,000 added in 2010. The unemployment rate averaged 8.9 percent last year, down from 9.6 percent the previous year.

Economists forecast that the job gains will top 2.1 million this year.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

Comment on this Story

Related News

1 week ago
0 Comments for this article
CFCC holding community career fair
Read More»
Ford
4 weeks ago
0 Comments for this article
Trump says Ford investing in 3 Michigan auto plants
Read More»
Home prices up
4 weeks ago
0 Comments for this article
US home prices rose in January by most in 2 ½ years
Read More»