U.S. Unemployment Rate Drops -- Only 11,000 Jobs Lost in November

Spread betting and contracts for differences on U.S. stocks and other financial instruments should consider the impact of today's jobs data. Jobs showed marked improvement in November, according to a first look at the data. Indeed, rather than cutting 125,000 jobs, the data showed that only 11,000 jobs were cut.

Not only that, but the unemployment rate fell to 10%, sparking hopes that job losses will continue to slow. The Financial Times reports on the latest employment data out of the U.S.:

“This report should reduce anxieties about the sustainability of the recovery,” said John Ryding and Conrad DeQuadros, economists at RDQ Economics, in a note to clients. “However, given the large degree of slack in the labour market, this report does not change our view that the Fed is going to be on hold through next year.”

Clearly, it appears that things are stabilising on the jobs front. The news helped boost U.S. stocks and the U.S. dollar as investors look for signs that things are going well.