WSJ's MarketWatch wrote:
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 surveyed by MarketWatch, who were looking for 100,000 fewer jobs and a steady 10.2% unemployment rate.
Threat Level: Cautious Optimism
Edit: It should be noted that the economy didn't gain jobs yet. The drop in the rate was due to over-reporting in Sept/Oct of job losses and a good November where relatively few jobs were lost. The drop from a projected 100,000 lost jobs to 11,000 is more encouraging than the 10% from 10.2% although that number will be reported more.
Edited, Dec 4th 2009 8:20am by Jophiel