The economy added 200,000 jobs in December and the unemployment rate fell to 8.5 percent, the Labor Department reported on Friday.
In December, the labor force participation rate held steady, suggesting that the drop in unemployment was due to payrolls growing rather than discouraged job seekers. The U-6 number, a broader measure of unemployment than the headline unemployment rate, fell from 15.6 percent in November to 15.2 percent in December.
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