Unemployment rate drops

Friday, December 2, 2011 - 11:45am

Washington and Wall Street got a pleasant surprise Friday morning.

The nation's unemployment rate has dropped to 8.6 percent, its lowest level in nearly two and a half years.

A net 120,000 thousand jobs were created, in line with predictions, along with 72,000 more not orginally counted since September.

"In the last four months, I think we've created a million, over a million household jobs, and that's a boatload of jobs," says Mark Zandi of Moody's Analytics.

It's progress.

Still, more than 13 million Americans are out of work and four out of 10 have been unemployed for more than six months.

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