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Unemployment Rate Slowed in November

From Don Lee at the LATimes:

In a hopeful jobs report before the holidays, the nation’s unemployment rate eased to 10% in November from 10.2 % in October, and the number of workers on payrolls was essentially unchanged last month, the Labor Department said today.

The report said employers shed a net 11,000 jobs last month, a statistically insignificant change and the best showing since December 2007. By contrast, the U.S. economy started this year with a loss of 741,000 jobs in January, but the pace of job declines has been moderating steadily.

The report caught analysts by surprise; most economists had expected job losses to fall by at least 100,000 last month. Although manufacturing and construction employers continued to trim jobs, the cuts were much smaller and were largely offset by increases in business and professional services and in health and education fields.

Looks like that stimulus thing may be working. Read the rest of the LATimes Story here.