Politics
Politics
Out of context: Reply #9597
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Employers in the U.S. cut the fewest jobs in November since the recession began and the unemployment rate unexpectedly fell, signaling the recovery is lifting the labor market out of the worst slump since World War II.
Payrolls fell by 11,000 workers, less than the most optimistic forecast among economists surveyed by Bloomberg News, figures from the Labor Department showed today in Washington. The jobless rate declined to 10 percent.
Stocks soared, the dollar strengthened and Treasuries declined as the report indicated companies may start hiring again after the labor market shrank by 7.2 million jobs since December 2007. Hours worked, wages and staffing at temporary employment agencies all rose, today’s report showed.