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U.S. Payrolls Rise in November

Jobless rate hit a nine-year low of 4.6%, but wages unexpectedly declined.

By Shobhana Chandra, Bloomberg | Updated on December 02, 2016

U.S. hiring picked up in November and the unemployment rate tumbled to a nine-year low while wages unexpectedly declined, providing a mixed picture of progress in the labor market.

The 178,000 gain followed a 142,000 rise in October that was less than previously estimated, a Labor Department report showed Friday. The median forecast in a Bloomberg survey called for a 180,000 advance. The jobless rate fell to 4.6% from 4.9% as people entered the labor force and found jobs, though the overall participation rate dropped for a second month.

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