Good News in Friday’s Job Reports

The latest numbers show that that employers cut 11,000 jobs in November, less than expected by most analysts. The jobless rate dropped from 10.2% to 10% and perhaps most siginificanly, the average work week increased from 33 hours to 33.2 hours. Because employers typically extend the number of hours before hiring new employees, an increase in the average work week is being viewed as an early sign of recovery.