The U.S. Non Farm Payrolls report showed that payrolls increased by 120,000 in November. In an unexpected move, the unemployment rate dropped to 8.6% from 9.0%. This is the lowest print of unemployment rate since March 2009. The increases in nonfarm payrolls came from job growth in the private sector. Private employment rose 140k while government employment fell 20k. Government payrolls have been cut as federal, state and local agencies face budget deficits. The construction sector lost 12K jobs, manufacturing gained 2k jobs and healthcare sector gained 18k jobs. Read more