U.S. unemployment rate drops to 4.6 percent

The U.S. economy added 178,000 jobs in November, the Labor Department reported Friday, and the unemployment rate fell sharply to 4.6 percent from 4.9 percent in October. It's the lowest rate since August 2007.

Unemployment has been at or below 5 percent for nearly a year as more people have returned to the job market and hiring has maintained momentum. November was the 74th consecutive month America added jobs.

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