US jobless rate drops but crisis continues

The US unemployment rate slipped to a December 2008 low in November but the job market remains stuck in a grinding crisis, government data released onFriday shows.

The Labor Department’s monthly jobs report was better than expected, with the jobless rate dropping to 7.7 per cent from 7.9 per cent in October and job growth picking up.

But the decline in the jobless rate was mainly due to people leaving the workforce, the department said.

via Business feed http://www.scmp.com/business/article/1100535/us-jobless-rate-drops-crisis-continues