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US unemployment rate falls to five-year low of 7% in Nov

Last Updated: Saturday, December 7, 2013 - 16:10

London: The United States unemployment rate has reportedly fallen to a five-year low of 7 percent in November, according to the Labor Department.

The US economy displayed encouraging signs of strength as payroll figures showed that 203,000 jobs were created last month, which were more than predicted, the BBC reports.

The monthly non-farm payroll figure is watched closely by the economists, the report added.

Analysts said that this could mean that the Federal Reserve will start to unwind its massive stimulus programme soon.

However, this figure might have been distorted as some federal workers, who were counted as jobless in October because of the 16-day partial government shutdown, returned to their jobs last month.

First Published: Saturday, December 7, 2013 - 16:10
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