NY Times - "Jobs Report Is Strongest Since the Start of the Recession"

[TomCADem]

Under Ronald Reagan,unemployment continued to remain above 10 percent through his first two to three years, so I can't imagine that unemployment will dip under 10 percent soon given the severity of this recession.

http://www.nytimes.com/2009/12/05/business/economy/05jobs.html?hp

The nation’s employers not only have stopped eliminating large numbers of jobs, but appear to be on the verge of rebuilding the American work force, devastated by the recession.

The unexpected improvement comes as a relief to the Obama administration, which plans to unveil new proposals next week to ease the plight of the jobless following its labor forum in Washington on Thursday.

In the best report since the recession began two years ago, only 11,000 jobs disappeared last month, the government said on Friday, and the unemployment rate actually dipped, to 10 percent, from 10.2 percent the previous month.

“There are going to be some months where the reports are going to be a little better, some months where the reports are worse, but the trend line right now is good,” President Obama said in a visit to Allentown, Pa., offering reassurance to a city besieged by unemployment and a country still suffering from the highest unemployment rate in 26 years.