Today's jobs report appears to deliver some good news to both main street and wall street as the unemployment rate dropped to 8.6% from the expectated rate for November of 9%.
While these brighter unemployment numbers caused in part by the addition of 120,000 new jobs in November give some room for hope, it's important to note that the percentage decrease was in large part caused by a decrease in of 315,000 people in the total labor force. This is the largest labor force drop since January, 2011.
The government also revised October's number of 80,000 new jobs upward to 100,000. They also revissed September wup by 52,000 jobs. The WSJ reports that while there is "no shortage of good news here for those out there looking for it," the reality is that approximately 13.3 million Americans still remain without jobs.