Franchise News
CNN: Unemployment Drops to 4.6%, Lowest Since 2007
Despite the shock of November’s election results, America kept hiring.
According to a report from the Labor Department, 178,000 jobs were added in the U.S. this November, reports CNN. Also, the unemployment rate fell from 4.9 percent to 4.6 percent in October.
These rates are significant because they’re the lowest since August 2007. Over the past year, unemployment rates have been improving, staying below 5 percent. And now for 74 months, jobs have been increasing month over month.
CNN says that the drops in unemployment rate are actually a bit mysterious, saying that the rates might be more of an indicator that simply less people are looking for work.
"Our best answer here is that more people stopped looking for work," Steve Chiavarone, portfolio manager at Federated Investors, told CNN. "The headline numbers here are okay but the underlying numbers are less rosy."
Still, many remain confident that the Trump presidency will continue to bring more jobs, especially after he reached a deal with Carrier this Tuesday, which will keep around 1,000 jobs in Indiana rather than going to Mexico.
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
