Unemployment Drops to 7 Percent

Katie Pavlich
Posted: Dec 06, 2013 8:34 AM
Unemployment Drops to 7 Percent

According to the Bureau of Labor Statistics, the unemployment rate has dropped to 7 percent.

The unemployment rate declined from 7.3 percent to 7.0 percent in November, and total
nonfarm payroll employment rose by 203,000, the U.S. Bureau of Labor Statistics
reported today. Employment increased in transportation and warehousing, health care,
and manufacturing.

While 7 percent sounds positive, it's important to keep in mind the labor participation rate hasn't gone up more than .2 percent, which means people who have left the labor force aren't coming back. According to numbers crunched by CNSNews, more than 90 million people are not in the labor force.