US economy adds 74K jobs, rate falls to 6.7 pct.

WASHINGTON (AP) - January 10, 2014

The Labor Department says the unemployment rate fell from 7 percent in November to 6.7 percent, the lowest level since October 2008. But the drop occurred partly because more Americans stopped looking for jobs. The government counts people as unemployed only if they are actively searching for work.

Cold weather may have slowed hiring. Construction firms cut 16,000 jobs, the biggest drop in 20 months.

December's hiring is far below the average gain of 214,000 jobs a month in the preceding four months. But monthly gains averaged 182,000 last year, nearly matching the previous two years.

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