Finally! Not Completely Awful News for Jobs

The unemployment rate dropped to 10% in November from 10.2% in October. To be very precise, the unemployment rate fell to 9.992%.
That’s good news but the economy is still losing jobs—only 11,000 jobs were lost last month. That’s a dramatic improvement over the data we’ve seen during the past two years. The Labor Department also revised the data higher for September and October.
Here’s a look at the unemployment rate:

Here’s a look at non-farm payrolls:

In less than two years, seven million jobs have been lost.

Posted by Eddy Elfenbein on December 4th, 2009 at 10:07 am

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