The U.S. unemployment rate took a big tumble in November, from 9 percent to 8.6 percent, according to the government's monthly jobs data. Still, it's probably too soon pop the champagne corks. A combination of forces caused the big drop, some good and some bad.
After years of seeing their bid to join the EU stalled, Turks are trying not to show too much pleasure at the doom-laden economic news emanating from Europe. However, economists warn, Europe's debt crisis could easily spill in Turkey's direction.
The company has called Illinois home for more than a century but is now at the heart of a bidding war between states, which are increasingly looking to take businesses away from one another as new-job creation remains slow. One offer from Ohio is reportedly worth up to $400 million in tax incentives.
The Labor Department reports that the country's unemployment rate fell sharply last month. It dropped from 9 percent to 8.6 percent. Unfortunately, the real labor market may not have improved all that much. Many workers have given up looking for jobs, and their "retirement" can skew the unemployment rate, making it look better than the reality.
The unemployment rate dropped unexpectedly to 8.6 percent in November, in part because hundreds of thousands of Americans stopped looking for work. But analysts said the modest increase of 120,000 jobs created last month points to an economy that's generally still limping.
The highly anticipated news brought a surprise: The unemployment rate had been expected to stay at 9 percent. But it fell in part because of an increase in the number of "discouraged" workers. They've given up looking for jobs.
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