Unemployment Rate Drops in November to Lowest Level in 4 Years - kcentv.com - KCEN HD - Waco, Temple, and Killeen

(KCEN) -- The unemployment rate dropped last month to its lowest level since 2008.

The U.S. added 146,000 jobs in November, helping push the unemployment rate down to 7 percent.

But there is no silver lining.

Economists say the rate fell because hundreds of thousands of people simply stopped looking for work and were not counted as unemployed.

The government says superstorm Sandy had only a slight impact on the numbers.

Hiring remained steady during the storm and the looming threat of tax increases.