Unemployment Rate Drops in November

Washington, DC, Dec. 7, 2012 -- The economy created 146,000 jobs in November and the unemployment rate fell to 7.7%, according to the Labor Department.

The Labor Department said the effects of Superstorm Sandy might be more accurately determined in next months' report.

Economists had been expecting a gain of 93,000 in nonfarm payrolls and an unemployment rate at 7.9%.

The previous two months' job gains were revised lower.