Unemployment Rate Falls

It’s the smallest number of jobs dropped since the start of the recession, with the unemployment rate declining from 10.2% to 10%, a sign of a recovering labor market.

Nonfarm payrolls fell by just 11,000 last month, slowing down from a downwardly revised 111,000 drop seen in October, as the recovery encouraged some companies to retain workers, the Labor Department said Friday.

It was the best showing since December 2007, when the recession began and payrolls had risen by 120,000. Economists surveyed by Dow Jones Newswires had expected a payroll decrease of 125,000.

By: Alan

Alan Colmes is the publisher of Liberaland.