The U.S. Unemployment Rate Drops To 8.6 Percent On Seasonal Hiring For Christmas

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Barack Obama

The U.S. unemployment rate dropped in November 2011 largely on seasonal hiring, as stores added job positions to help with the Christmas rush. Many of you can recall seeing "help wanted" signs in November posted in various store windows at malls, plazas and freestanding retailers around the country. This played a significant factor in the unemployment rate dropping from 9.0% to 8.6 %, which is still high. Data also indicates tens of thousands of Americans gave up searching for a job as well, which factors into economic tallies.

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