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Weak jobs report shows unemployment rate dipping below 7 percent for first time in Obama presidency as workers leave labor force

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Unemployment in the U.S. fell to 6.7 percent in December, dipping below 7 percent for the first time since November 2008, when the financial panic was in full swing and President Obama had not yet taken office. However, most of that improvement came because Americans dropped out of the workforce. The U.S. economy added only 74,000 jobs in the month, the smallest gain since January 2011, falling...

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