CNN: Unemployment Drops to 4.6%, Lowest Since 2007

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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