Jobless Rate Hits 4-Year Low

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.