US jobless rate drops to 10%

Financial Times reports some great news today:

The US jobless rate fell back to 10 per cent in November, as the economy shed the fewest jobs since the recession started two years ago, offering a promising sign that the labour market is starting to mend.

Official figures released on Friday showed that employers cut 11,000 jobs last month, far below the 125,000 job losses that many Wall Street analysts were predicting and pulling the unemployment rate back from a 26-year high of 10.2 per cent. That was a substantial improvement from October, when non-farm payrolls fell by a revised 111,000.


42 Responses to “US jobless rate drops to 10%”

  1. 1 Josh Highness December 4, 2009 at 5:22 PM

    This is great news however with such large numbers and what the BLS considers as “jobless” I’ve experienced a major loss of work hours from my job as they have put me on reserve. Its moves like these within a company that might give a false impression on how the economy is doing.

  2. 2 Anna Hernandez December 5, 2009 at 8:06 PM

    This is great yet there is still a large percentage of the U.S. population that is still unemployed. The decrease does not outweigh the increase in unemployment. The recession will lie around for a while and companies will continue to slowly cut costs and begin outsourcing to foreign vendors, which has increased greatly during the recession.

    This move is extremely debatable in this country. U.S. companies and U.S. jobs, or U.S. companies and international jobs? In the end, a company needs to progress so it will do what is necessary. This contributes to the increase of the unemployment rate.

  3. 3 Vince Kaehler December 6, 2009 at 3:05 PM

    This seems to be a bright light for the recovery of our economy. the jobless rates may be declining because of the holiday season in which there are more need for work. However, I highly doubt the holiday season has a big enough impact to influence the jobless rate and therefore this is a really good sign of recovery

  4. 4 Carling December 6, 2009 at 3:46 PM

    I have to agree with Josh. A friend of mine works for in construction, and because of the economy he said that his boss was going to have to let 5 people go this month. Instead of having 5 people out of a job, he decided to cut back everyone’s hours so that he could keep all his workers but everyone would be getting fewer hours.

  5. 5 Jorge Clavijo December 6, 2009 at 4:48 PM

    These are excellent news for us who are studying and trying to earn a professional degree. I hope there will be more jobs in a future in order for our entire class so that there will be no unemployment.

  6. 6 Kaitlin E December 6, 2009 at 7:08 PM

    Although this is technically good news, a jobless rate of 10% is still very alarming. Hopefully the full recovery continues to come about.

  7. 7 Anna Chkhikvishvili December 6, 2009 at 8:26 PM

    It is great news that job opportunities are opening up. It is also good news that what the people predicted, the worst scenario, has not occurred. But the jobless rate is still at 10% and it is very stressful.

  8. 8 Margaret Garbo December 6, 2009 at 9:54 PM

    I believe that although the the decline in the unemployment is slow, it is something that people in the United States can be optimistic about. The decrease in those without jobs still continues and that means more people are able to work and gain income. The government should still continue trying to solve the problem as keeping a job and unemployment rates as seen are very unstable. Hopefully, this won’t increase anymore. I feel bad for those unemployed and it is scary that it could happen to you and your family. Hopefully. more companies will arise or be needing large amounts of labor to give people jobs. Hopefully in the future it wont be as scary to go into the working world where you never know when you’ll be cut or if you will even find a job.

  9. 9 Martin M December 6, 2009 at 10:06 PM

    This is a tremendous improvement for those that have been jobless. but I have to agree with Carling and Josh as well. Positivly, everyone is finally getting jobs and working; no longer suffereing to find a job. Yet again, people may work fewer hours than before and not make as much. Good and bad. In my opinion, I would most likely go towards the “GOOD”

  10. 10 Lukas Bradvica December 6, 2009 at 10:17 PM

    I’m going to have to agree with Martin, Carling and Josh. It’s great more and more people are having the ability to find jobs. However it is bad that to create these jobs people are cutting hours off of everyone’s hours. Yes its a good sign that the unemployment is decreasing slowly, but I think this serves more as bandage for the problem rather then a solution.

  11. 11 amos mccray-goldsmith December 6, 2009 at 11:42 PM

    from the roller coaster of the unemployment rate, which so far has been on an upwards slope for the past couple on months. its good to know that it is finally going down. and not just that but it is going down to such an extent that it supassed all of the perdictions of our very best economists. if this is not a good sign, i dont know what is.

  12. 12 Chris Griffiths December 7, 2009 at 7:38 AM

    While a decrese in the Jobless rate is good we still must remember that not only is the number stil quite high but this number does not include discouraged workeres and workers that are part time and would perfer to be full time employees. However, as I said earlier any decrease in the jobless rate is a great sign and should be hopeful data.

  13. 13 Luke Napier December 7, 2009 at 9:51 AM

    It is really great to hear this news that not as many people are losing their jobs in AMerica these days. It worries me once I am trying to enter the job world and apply for a job, but at least we are moving in the right direction with our economy. It will take patience and time for all to go back to the way it should be for all of us to prosper.

  14. 14 Kaleen Scott December 7, 2009 at 10:07 AM

    This is great news, however, when can we expect the economy to be back at where it was before the recession? Unfortunately, for those living in tourist cities, such as napa, we lose work hours because we’re in a low season for travelers. I’m fortunate enough to have job security and haven’t experienced the loss of a job yet. I hope for the economy to get better before that time would come.

  15. 15 Rene Martinez December 7, 2009 at 4:56 PM

    This is amazing. Finally! It’s been two years and its about time we see some real progress

  16. 16 Nicole Hernandez December 8, 2009 at 9:09 AM

    It’s good to hear that more and more people are getting jobs, but there are still a lot of people out there that are still looking for jobs. It’s about time we start making some progress, and hopefully it will keep up.

  17. 17 dlilpanama December 8, 2009 at 9:19 AM

    this is good that the unemployment rate is going down. more people are getting back in to the work fource and geting jobs thats a good thing. i been seeing a lot more buildings being built around so i know ther will be new jobs soon for people so i expect this rate to drop even more. this is why people need to have a college eucation so they could get whatever job comes out or is built with a new building. but this is good and i hope i dont lose my job. there is still people geting laid off where i work so even though the rate fell people are still losing jobs while others gain.

  18. 18 wallacej December 8, 2009 at 4:20 PM

    This is a huge step in getting out of the recession we have been in for the last two years. It is good to see the unemployment rate go down. Its sad seeing many americans being layed off everyday. It doesn’t mean it is over though we still have a lot of work to improve on.

  19. 19 Ruby S December 8, 2009 at 4:39 PM

    This is making sense after learning about the long-run curve for the unemployment rate. The economy is finally somewhat adjusting to the high inflation and causing the unemplyment rate to fall back to the natural rate of unemplyment. It’s good to know that things are getting better, even if the change is only a small one right now.

  20. 20 Britany Linton December 8, 2009 at 5:36 PM

    I think its good that there are more jobs available to those out of work. Its slowly but surely helping our economy and things are starting to look up. Although unemployment is still very high, these little numbers of things getting better is helping people look forward to the future. We are finally adjusting to the high inflation!! unemployment is finally settling down close to the natural rate of unemployment which is good for everyone.

  21. 21 Alanna Heaney December 8, 2009 at 6:19 PM

    i think this is fantastic. what some people said is true. it sucks that they are adding more people to work and cutting everyones hours. that is happening at my job. we are hiring new people and cutting back hours. we all have to fight for jobs these days and we got to work hard to keep our job because finding a new job is hard but with the decrease of unemployement maybe things will get better in the near future. things are looking bright

  22. 22 Alejandro Plascencia December 8, 2009 at 6:37 PM

    The news that the “jobless rate”is dropping means that slowly emplyers are finding the extra money to hire workers. If the companies are aqcuiring more money then the economy is slowly rising back to its feet because it means more people are spending money.

  23. 23 Kyle Ray December 9, 2009 at 12:05 AM

    Only 11,000 jobs lost, out of a predicted e 125,000! Makes me wonder what kind of people they have predicting job loss. Doesn’t that seems a little too far off for people to whom we look to base our economy? Anyways, I think that the slowing in unemployment is more due to cutting others hours than an upward turn in our economy. Also, I bet people hate to fire other people around christmas, so we might just have double the layoffs in a couple of months.

  24. 24 Nubia Cazares December 9, 2009 at 9:54 AM

    This is great news. I don’t think anyone predicted this decrease to happen any time soon, but its definitely a benefit for our economy, especially during this recession. This gives great hope that the economy will start to rise again and hopefully continue to decrease the unemployment rate even more. The fact that more and more people are getting jobs is a great sign for a more prominent future. We are finally seeing a sign of positive change in our economy and the fact that the unemployment rate is decreasing is certainly a positive change.

  25. 25 Jennifer Tarbell December 9, 2009 at 12:30 PM

    The derpression is showing signs of fading. this article really gives hope that we wont be stuck in a depression forever and with the climbing employment rates it may be over sooner than we thought. granted we may have to loose a little to share a little but that should be good for this country. since we all need to learn to tzake care of each other. once we’ve accomplished that we’ll be well on our was to Universal Health care

  26. 26 Kirstie Scott December 9, 2009 at 4:11 PM

    I am going to join in and agree with the common theme here, that this is great news! I myself even was hired for a job recently and it is nice to know that employers are starting to hire more often.

  27. 27 Ben Petersen December 10, 2009 at 8:29 AM

    This is a good sign for the economy, especially in the holiday season, as more people are able to keep their jobs. The recession will work through its small peaks and valleys, as shown here.

  28. 28 Anita Haas December 10, 2009 at 9:09 AM

    This sounds like great news, but I’m wondering if it is just the seasonal jobs that are opening up and after the holidays will unemployment go back up?

  29. 29 courtney b December 10, 2009 at 12:54 PM

    This is good news to hear(well, obviously) and hopefully the unemployment rate will continue to decrease. Unfortunately it’s going to take a long time to recover from this recession. changes in the unemployment rate will happen very slowly, but as long as it’s on the downward slope, everything’s good.

  30. 30 Alexander Perez December 10, 2009 at 1:52 PM

    The news that unemployment is declining is good news. I still believe we have a ways to go before there is a bigger impact on the job market. The month-to-month figures fluctuate. Next month it could jump higher than the 26 year high of 10.2 percent set the previous month. I would like to see at least a decline of at least 6 months to a year before the future will look brighter for the U.S. economy

  31. 31 Broderick Nickelberry Jr. December 11, 2009 at 1:23 PM

    This is good to hear However I think that is still to high. Hopefully it lowers more to around like 5 percent. I know lots of people affected by this job rescission and its not good. Hopefully when I try to find another job it won’t be to hard because my job is cutting hours. And Obama should try to find some ways to help the unemployment rate.

  32. 32 Charles McNeil December 11, 2009 at 10:54 PM

    Wow. We were projected to lose more than 10 times as many jobs last month than we actually lost? I don’t know if I’m more impressed with how handily the job market beat the projection, or taken aback by the immensity of the projection. On one hand it seems like a momentous success, on the other the scale of the projection is awfully foreboding. I guess I’m just worried about a bounce-back month.

  33. 33 Hayden Scott December 14, 2009 at 12:01 PM

    Hopefully the drop from hundreds of thousands of jobs lost each month to just 11,000 was more than just a one month anomaly. I heard that even President Obama was was surprised by the number, and thought that it was 111,000 and not 11,000.

  34. 34 Larry Oppenheimer December 14, 2009 at 12:49 PM

    Hmmm. The title and opening say that the jobless rate fell, which suggests they’re talking about less unemployment, but the rest of the article discusses a decrease in the rate of job LOSS, that is how many jobs were cut. Either is good news, but the two are not the same thing at all: if there was zero job loss that does not mean that there are fewer people unemployed. Which is it? A decline in jobs lost or a decline in unemployment?

    Financial Times is a UK publication, so I wonder if there is a difference in terminology here.

  35. 35 Taylor Latt December 14, 2009 at 1:17 PM

    i absolutely agree with everyone else. my job is union, and in order to keep jobs they have reduced everyone (including most full-timers) to 24 hours which is the legal minimum in our union. They are even moving people around from store to store wherever someone needs extra help just to prevent lay-offs and new hires. So the job market looks better, however, im not so sure it really IS better.

  36. 36 Fr,K December 14, 2009 at 2:35 PM

    This is excellent news. In the best situation these sort of numbers will be sustained, showing that our economy is making another step towards normalcy and not that CEO’s just decided to fire less people this month.

    And to Mr. Oppenheimer, I believe it’s a cut in the amount of jobs LOST during that month, which sort of means a decrease in unemployment, because more people weren’t added to that list. Either way, it’s progress and progress is wonderful.

  37. 37 Rochelle Galzote December 14, 2009 at 7:10 PM

    I don’t work or have a job, but from what I heard from friends and family was that it was really hard to get a job. They were afraid they were going to lose their job if they haven’t already. This is good news that less people are losing jobs.

  38. 38 Karla Martinez December 14, 2009 at 7:59 PM

    Although these are promising news, we cannot forget that people are still being laid off, just in smaller quantities. Also, there are still people who have been laid off since the economy crashed and have not been able to find jobs. So the overall number of people unemployed is higher once we take that into consideration.

  39. 39 Jordan Premo December 15, 2009 at 2:44 PM

    The decrease is of course great news but still there are so many people being laid of or having their hours cut. It would be so nice if people could keep spending more money to keep local businesses in business. I work for a small remodeling company and there is just no work at all! My boyfriend works for an electric company and out of 8 people only one is still working. Hopefully things keep getting better so we can all get back into work!

  40. 40 Nathan Couch December 17, 2009 at 11:55 AM

    Something I read somewhere is there is still a great number of high skill jobs getting cut and more temporary employment McJobs being created which give the illusion of a lower unemployment rate but in reality do nothing substantial to the economy or the bills people have.

    Then again, I got a new one of those McJobs (well it’s at Domino’s and it’s so much better than McDonald’s would be even though it’s still minimum wage) in the middle of November. But there is still a difference between me, a college student, and someone who is older and has more marketable skills.

  41. 41 Joshua Lanuza December 24, 2009 at 8:03 AM

    I agree with everyone. This is true and has affected my life as well. It has affected my wage and trouble of finding another job. This should be of no surprise for anyone that reads this that maybe their job my be affected as well.

  42. 42 Logan C Songer January 19, 2010 at 2:50 PM

    While this appears to be great news, I don’t believe it to be true. Among my friends and family, almost 25% are unemployed or their hours have been drastically reduced. These statistics among my family and friends have generally been fairly accurate in assessing the general population. I don’t believe these numbers take in to account people who have had their “unemployment” benefits run out, nor does it take in to account the people who have had their hours reduced, let alone their pay or bonus being stagnant or even eliminated for the year.

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