New York state’s unemployment rate dropped to 7.4 percent in November, the lowest level in nearly five years, the Department of Labor said Thursday, with the private-sector job count rising by 4,300 to more than 7,493,000, an all-time high. New York City’s jobless rate was 8.5 percent in November, down slightly from October. In New Jersey, the jobless rate in November fell to 7.8 percent, the lowest in 30 years, but economists said the decline is due to the 31,000 who left the labor force.
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