U.S. Unemployment Rate Falls to 10% For November 2009 – Sacramento Rising

November turned out to be a good month according to the latest figures from the U.S Department of Labor as they report a surprise drop in unemployment levels from 10.2% in October to 10.0% for November. However local numbers for Sacramento are up from 11.9% to 12.3% showing California may boast a gloomier outlook than the national average.

The Labor Department said the U.S. economy lost just 11,000 jobs in November 2009, the smallest monthly contraction in the labor force since the recession began in late 2007. It also revised lower job loss numbers for both September and October.

President Obama will deliver a speech focusing on the U.S. economy next Tuesday at the Brookings Institution, but the administration was quick to take credit Friday for the improving job outlook.

“Over the past 10 months, the Obama Administration has taken bold steps to break the back of this recession,” said U.S. Secretary of Labor Hilda Solis in a statement. “While there has been a lot of rhetoric about the Recovery Act, when you look at today’s report and other recent favorable economic trends, it is hard to argue that the Recovery Act is not working.”

The Sacramento region’s unemployment rate was 12.3 percent for October, the most recent numbers available from the California Employment Development Department. The figure is up from 11.9 percent in September. The region’s rate mirrors California’s non-seasonally adjusted 12.3 percent unemployment rate for October.

On Wednesday it was reported that the Sacramento region has lost about 46,500 jobs during the past year, according to the U.S. Bureau of Labor Statistics.

Sources: Article by Jeff Clabaugh of Sacramento Business Journal (http://sacramento.bizjournals.com/sacramento/stories/2009/11/30/daily42.html).

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