200,000 jobs were added to the U.S. economy in December pushing the unemployment rate to 8.5 percent to reach the lowest rate in almost three years.
The 200,000 increase followed a revised 100,000 rise in November that was smaller than first estimated, Labor Department figures showed in Washington.
Ã¢â‚¬Å“The tide is beginning to come back in,Ã¢â‚¬Â James Glassman, senior economist at JP Morgan Chase & Co. in New York, said in a radio interview. Ã¢â‚¬Å“WeÃ¢â‚¬â„¢ve got a long way to go. This is all positive, though, that weÃ¢â‚¬â„¢re actually moving forward, and thatÃ¢â‚¬â„¢s an important trend.Ã¢â‚¬Â