Jobless Rate Hits 4-Year Low

    Construction worker Miguel Fonseca carries lumber as he works on a house frame for a new home Friday, Nov. 16, 2012, in Chula Vista, Calif. Employers added 45,800 new jobs in California in October, according to the state Employment Development Department. (AP Photo/Gregory Bull)

    Gregory Bull / AP Photo

    Happy holidays, everyone. The U.S. economy added 146,000 jobs in November, causing the jobless rate to drop to a four-year low of 7.7 percent. The better-than-expected numbers surprised economists, who had expected a bleak report due to Hurricane Sandy. But the news wasn't all good: economists said part of the reason for the drop was that people gave up the search for work. Also, the numbers for September and October were revised downward to show that 49,000 fewer jobs had been added than previously reported.

    Read it at Bureau of Labor Statistics