NEW YORK, NY -- The long-suffering U.S. jobs market improved significantly in November, as employers trimmed the fewest jobs of any month since the start of the recession. The unemployment rate posted the biggest one-month decline in more than three years. U.S. payrolls slipped 11,000 jobs in the month, far below any of the job losses posted over the last 2 years.
The October and September job loss estimates were also revised sharply lower, trimming previous job loss estimates by 159,000 between them. The unemployment rate improved to 10% in the month, yet long-term unemployment still remains gloomy. The report showed 15.4 million Americans are now unemployed, that's down 325,000 from October. Another 6 million want jobs but are not counted because they have stopped looking.
The report also shows rises in temporary hiring. Temporary workers increased by 0.6%, the biggest such jump in three years. This increase is a good sign that employers who had cut the hours of these workers in the past are now starting to restore those hours. Typically employers bring on temporary help before they add permanent employees. Economists believe this is another signal that the economy is continuing to recover.
I hope this holds up after the Holy-days and especially with the blizzard on the East Coast that cut sharply, deeply, unexpectedly into the last-shopping weekend rush!
God has a way of keeping us focused on the true reason for the season, but I do pray for His mercy and grace for those who will be affected income wise who are not filthy rich, greedy...etc.
Keep up the good work you do here with good stuff ...
