Saturday, December 05, 2009
WASHINGTON: The troubled US labour market saw a dramatic improvement in November as the number of jobs lost narrowed to 11,000 and the unemployment rate dipped to 10.0 per cent, official data showed on Friday.
The job loss figures showed a massive improvement from a revised 111,000 losses in October and 139,000 in September, the Labour Department said in its much-anticipated nonfarm payrolls report. The unemployment rate, based on a separate survey, improved from 10.2 per cent in October.
The report was far better than analyst expectations for a loss of 125,000 jobs and a jobless rate unchanged at 10.2 per cent, and signaled the economy was closer to job growth needed to sustain an economic recovery.
The report showed the goods-producing sectors lost 69,000 jobs including 41,000 in manufacturing and 27,000 in construction.
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