Unemployment Skips Down to 10.0%Dec 4 2009
December 4, 2009 - With the release of November's highly-anticipated employment report, many were pleasantly surprised to find that job losses were reduced to 10.0%, falling just 11,000 for the month. After enduring a discouraging jump to 10.2% in October, many questioned whether conditions were improving; this month's data release should now provide the reassurance several were seeking.
After experiencing four straight quarters of decline, November's report does in fact show recovery on the horizon. Now, as an economic upturn has begun, many are optimistic to see job growth next year. Additionally, November's data marks the strongest improvement since December 2007, when the nation's heavy economic troubles began.
This announcement follows the Obama administration's recent vow to accelerate job creation. In hopes of providing some relief to those experiencing jobless woes, President Obama had urged the corporate sector of America to help tackle rising unemployment. Fortunately, November's data indicates that the labor market has already begun healing.