Yellen: ‘Unemployment Rate Fell to 4.6% in Nov., the Lowest Level Since 2007’

‘Job gains average nearly 180,000 per month over the past three months, maintaining the solid pace that we’ve seen since the beginning of the year’

YELLEN: "Overall, we expect the economy will expand at a moderate pace over the next few years. Job gains average nearly 180,000 per month over the past three months, maintaining the solid pace that we've seen since the beginning of the year. Over the past seven years, since the depths of the great recession, more than 15 million jobs have been added to the U.S. economy. The unemployment rate fell to 4.6 percent in November, the lowest level since 2007 prior to the recession. Broader measures of labor market slack have also moved lower, and participation in the labor force has been little changed on net for about two years now, a further sign of improved conditions in the labor market given the underlying downward trend in participation stemming largely from the aging of the U.S. population."

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