US Unemployment Rate Declines to 10% in November
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US unemployment fell 0.2 percentage point to 10 percent in November, the Labor Department reported Friday.
In the past month, the employers cut 11,000 jobs, much less than the 130,000 economists had expected and also fewer than the revised 111,000 lost in October.
The November unemployment rate was also better than the 10.2 percent expected by economists. In the prior three months, payroll job losses had averaged 135,000 a month.
Since the recession began in December 2007, the US economy has lost a net total of 7.5 million jobs.
According to the Labor Department, the manufacturing sector shed 41,000 jobs last month while construction industries axed 27,000 jobs and retail trade employment fell by 15,000 over the month.
Meanwhile, professional and business services added 86,000 jobs, and employment in the education and health services grew by 40,000 jobs over the month.
There was other positive news in the report. The average workweek in November rose by 0.2 hour to 33.2 hours. The manufacturing workweek increased by 0.3 hour to 40.4 hours. Factory overtime rose by 0.1 hour to 3.4 hours.
However, the Federal Reserve warned that the nation's unemployment rate would remain elevated into 2011.
(Xinhua News Agency December 5, 2009)