The U.S. unemployment rate hit its lowest level in nine years in November, the U.S. Department of Labor reported Friday. According to the data, nonfarm payrolls rose by 178,000 jobs from October to November, pushing the unemployment rate down to 4.6 percent—the lowest measure since August 2007. That rate exceeded the expectations of economists surveyed by The Wall Street Journal, who had collectively predicted a 4.9 percent rate (the same as October’s).
