Job market shows big improvement
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/images/12/04/job.chart.imp.jpg width=292 height=320]
Chris Isidore
CNNMoney.com senior writer
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, and 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 23 months. Economists surveyed by Briefing.com had forecast a loss of 125,000 jobs in November.
The October and September job loss estimates were also revised sharply lower, trimming previous job loss estimates by 159,000 between them.
The new reading put October job losses at 111,000 jobs, and September's loss estimate was cut to 139,000. Each of those new estimates would have been the smallest declines in more than a year.
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Filed under: Economy • Job Market • Unemployment |
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Excuse me for saying this, but 'improvement' means getting better, not getting worse at a slower rate. Your headline should read that job loses have slowed, or words to that effect. The 3 million plus who have lost jobs since Obama took office are still out of work. I doubt any of them have seen 'improvement'.