Unexpected drop in jobless rate sparks optimism
By The Associated Press
This article was published December 4, 2009 at 11:29 a.m.
PHOTO BY AP / MATT ROURKE
Brad Kenny of Ridley Park Pa., who recently returned from his second deployment to Iraq, takes notes during a job fair in Philadelphia. The unemployment rate fell to 10 percent in November as employers cut the smallest number of jobs since the recession began.
WASHINGTON — The nation’s unemployment rate unexpectedly fell to 10 percent in November, from 10.2 percent in October, as employers cut the fewest number of jobs since the recession began.
The government also said 159,000 fewer jobs were lost in September and October than first reported.
The better-than-expected figures provided a rare dose of good news for a labor market that’s lost 7.2 million jobs in two years. Still, the respite may be temporary. Job creation is expected to remain far too weak in coming months to absorb the 15.4 million unemployed people who are seeking work.
Read tomorrow's Arkansas Democrat-Gazette for full details.
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