Market Surprise

Jobless Rate Dips to 10 Percent

The hemorrhage of jobs from the American economy is slowing, according to new figures from the Labor Department released on Friday. In the best showing since December 2007, payrolls fell by a mere 11,000 workers in November—far fewer than the median estimate of 125,000 predicted by Bloomberg-surveyed economists, while the overall jobless rate declined from 10.2 percent to 10 percent. In addition to the unexpectedly small payroll decline, the economy saw gains in hours worked, wages, and temporary jobs, which suggest that companies may start hiring full time workers again soon.