The national unemployment rate dropped from 9.0% to 8.6% in November, the lowest level in over 2 years. Isn’t that great news? Well, mostly.
The economy added 120,000 new jobs in November, the Bureau of Labor Statisticsreports, all in the private sector. But it’s not quite so simple: Part of the fall is due to the country’s shrinking workforce, which fell by .2% as 315,000 unemployed Americans simply gave up looking for work.