National Unemployment Dips to 7%

By: CBS
By: CBS

The latest unemployment report is out, and it has good and bad news.

The Labor Department says the economy only added 74,000 jobs in December. Now, that's the smallest number in nearly three years.

Despite weak hiring though, the unemployment rate actually dropped from 7.6 percent to 7 percent.

A big reason behind the dip is thousands of people stopped looking for work.

Many economists, however, believe businesses will step up hiring in coming months.


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