US Jobless Rate Hits 5-Year Low, but Hiring Slows

The U.S. jobless rate dropped sharply in December to 6.7 percent, its lowest point in more than five years, but employers added just 74,000 new workers to their payrolls.The government said Friday that unemployment dropped from 7 percent in November. However, the U.S. labor statistics chief, Erica Groshen, said two-thirds of the decline in the jobless rate was accounted for by workers ending their search for new jobs, and thus not being counted by the government in the jobless number. She...

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