Jobs Report Shows Drop in Unemployment Rate

Alix Steel looks at the latest reports and what they mean for the economy.
1:58 | 01/06/12

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Transcript for Jobs Report Shows Drop in Unemployment Rate
Unemployment has hit its lowest level in nearly three years figures out this morning from the Labor Department showed the jobless rate falling to eight point 5%. In December are also 200000. New jobs created -- -- Joining us now to discuss the report is Alex steals from the street Alex I'm happy Friday adding Friday's at the snap first -- -- better annexed back at 18. Absolutely part not exactly season -- right holiday seasons -- retailers hiring a lot of people. In part timers count but thinking -- across the board yes it was retail there was also transport construction. Manufacturing and that was really prop posited the private sector added 2121000. Jobs so it just means that we're seeing stronger demand and companies have to meet that more productivity which means more hiring but last month when the -- -- we discuss -- much backdrop how to do -- people stop. Looking for work is the same thing going on a tiny bit -- -- we DC 50000 people leave the workforce. But that doesn't necessarily mean that they were very discouraged because they weren't that number would probably have ballooned out so -- means that more people. Actually found jobs and they also -- that our average hourly were earnings picked up we -- that that they work more hours during the week he basically earning more and working that's a good time. OK well we know. Alex -- the economy is going to play a major role in the elections. How do you expect today's report to play on the campaign trail particularly in New Hampshire where the primaries take place next Tuesday. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Boost to Obama starts and -- hear -- people that are unemployed that's for sure Alex steal from the street thanks so much Alex back.

This transcript has been automatically generated and may not be 100% accurate.

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