Hiring On The Rise

Friday, December 2, 2011 - 3:41pm

Politicians square off over better-than-expected unemployment report.

The nation's unemployment rate has dropped to 8.6 percent, its lowest level in nearly two and a half years.

A net 120,000 thousand jobs were created, in line with predictions, along with 72,000 more not originally counted since September.

"In the last four months, I think we've created a million, over a million household jobs, and that's a boatload of jobs," says Mark Zandi of Moody's Analytics.

It's progress.

President Obama celebrated.

"The American economy has now created jobs, in the private sector jobs for the past 21 months in a row. That's nearly 3 million new jobs in all," he pointed out.

But people who've given up looking for work were not counted and Republicans still say the president has failed.

"The American people want actions on jobs and they want it now," said House Speaker John Boehner.

Still, more than 13 million Americans are out of work and four out of 10 have been unemployed for more than six months.

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