US unemployment rate hits nine-year low

The US unemployment rate has fallen to a nine-year low, according to latest figures.

While the nation’s economy created 178,000 jobs in November, the jobless rate slumped from 4.9 percent in October to 4.6 percent, the Labor Department’s latest reported revealed.

The growth of jobs was met with a minimal increase of earnings.

Average hourly rates fell 0.1 percent from last month, reducing the annual increase in wages to 2.5 percent from 2.8 percent.

BBC economics correspondent Andrew Walker said the report findings were “a little misleading”.  

“It partly reflects people who are no longer looking for work… they are counted as "not in the labour force" rather than unemployed,” Mr Walker told the BBC.

“That said, this is a rather strong report,” he concluded.

The US Federal Reserve, which controls the country’s central banking system, is set to hold a two-day policy meeting from December 13.