U.S. Jobless Rate Lowest in 5 Years, Raising Odds of a Fed Move
U.S. payrolls rose by 203,000 in November, and the unemployment rate fell to its lowest level in five years – signs of growth that could prompt the Fed to begin easing its easy-money policies.
– In November, the jobless rate dropped to 7 percent.
– A year ago the Fed said that it would keep interest rates at their near-zero floor as long as the unemployment rate remained above 6.5 percent.
– Meanwhile the U.S. labor force participation rate remains near a 35 year low.
– With 91.3 million Americans not in the workforce, the “real” U.S. unemployment rate is much closer to 11.5%.
Dramatic footage emerged this week showing the unlikely rescue of a Nigerian man, who survived for almost three days trapped in an air bubble in his sunken ship. He spent time reciting the last psalm his wife had sent by text message, sometimes called the Prayer for Deliverance: “Oh God, by your name, save me… The Lord sustains my life.”
The U.S. military says it will no longer release reports of hunger strikes staged at its notorious Guantanamo Bay prison to the public since disclosing such news is not in its interest.
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