National unemployment drops to 7.7

The national rate of unemployment dropped to 7.7 percent in November, down from 7.9 percent as the economy added 146,000 new jobs.

Retail employment saw the biggest gains in the month, adding 53,000 new jobs as retailers began to add staff for the Christmas season.  Another 43,000 jobs were added in the professional and business services sector, while the health care sector added an additional 20,000 jobs.

Construction saw the biggest losses in the month, dropping 20,000 jobs.

The rate of unemployed now stands at its lowest level since President Obama took office in January 2009.  At that time, the rate stood at 7.8 percent and reached that level again in September before edging up in October.

"He’s obviously working very, very hard at it. I mean he’s traveling all over the country as chairman of the [Republican Governors Association] and I think at this point he has as good a chance or better than anybody else. His name is household word all across the country, and I think he would make a great president."
—former U.S. Rep. Jim Saxton (R-3), on Gov. Chris Christie