Unemployment Rate Falls Unexpectedly in November

Washington, DC, Dec. 4, 2009–The U.S. labor market improved markedly in November, with the unemployment rate falling back to 10% and job losses shrinking to the lowest level in nearly two years, the Labor Department reported Friday.

Nonfarm payrolls dropped by a seasonally adjusted 11,000 in November, the fewest since December 2007.

Payroll losses in September and October were revised lower by a total of 159,000. The report was much better than expected by economists, who were looking for 100,000 fewer jobs and a steady 10.2% unemployment rate.