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Payroll growth in the U.S. beat forecasts in December and the unemployment rate dropped to the lowest level in almost three years as the economy gained strength heading into 2012.The 200,000 increase followed a revised 100,000 gain in November that was smaller than first estimated, Labor Department figures showed today in Washington. The jobless rate unexpectedly fell to 8.5 percent, while hours worked and earnings climbed. “You got the trifecta -- more people working, wages up and the average work week up,” said Stuart Hoffman, chief economist at PNC Financial Services Group Inc. in Pittsburgh, who accurately forecast the December payrolls gain. marc jacobs“You can’t really argue that that isn’t a sign of significant improvement in the job market.”Sustained hiring is needed to support the household spending that accounts for about 70 percent of the world’s largest economy. Today’s report follows gains in manufacturing and consumer sentiment that suggest the U.S. is withstanding the economic crisis in Europe. Stocks and Treasury yields fell after William C. Dudley, president of the Federal Reserve Bank of New York, said the outlook for unemployment remains “unacceptably high” relative to the Fed’s goals. The Standard & Poor’s 500 Index declined 0.3 percent to 1,277.77 at 1:15 p.m. in New York. The yield on the 10-year Treasury note fell to 1.96 percent from 2 percent late yesterday.Payrolls were forecast to rise by 155,000 in December, according to the median estimate in a Bloomberg News survey of economists. Regular monthly revisions subtracted a total of 8,000 jobs from payrolls in October and November. Average hourly earnings rose 0.2 percent to $23.24, today’s report showed. The average workweek for all workers increased six minutes to 34.4 hours.marc jacobs bagsThe so-called underemployment rate -- which includes part- time workers who’d prefer a full-time position and people who want work but have given up looking -- decreased to 15.2 percent from 15.6 percent. Annual benchmark revisions to the household survey showed the unemployment rate averaged 8.9 percent in 2011, down from 9.6 percent and 9.3 percent in the previous two years. It still marked the worst three-year period since 1939 to 1941.marc jacobs bags cheapThe report also showed a decrease in long-term unemployed Americans. The number of people unemployed for 27 weeks or more fell as a percentage of all jobless, to 42.5 percent from 43.1 percent.