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US unemployment rate drops to 6.7% in Dec

DPA Washington | Updated on March 12, 2018

Unemployment rate in the United States fell to 6.7 per cent in December despite the economy adding a disappointing 74,000 jobs, the slowest monthly gain in three years, the federal Bureau of Labour Statistics had said on Friday.

An unusually cold, snowy December may have contributed to the anaemic payroll growth. November payrolls had grown by a revised 241,000.

The jobless rate, which was 7 per cent in November and 7.3 per cent in October, was down from 7.9 per cent a year earlier and is now at the lowest level since October 2008.

The household survey on which the unemployment rate is based showed fewer people seeking work, with the participation rate of 62.8 per cent — those working or actively seeking work — equalling a 1978 low.

Published on January 11, 2014

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