Bottoming Out?


Calculated Risk has the graph. Leonhardt explains the significance:

The economy lost only 11,000 jobs in November, the Labor Department reported. That’s down from 111,000 last month and a peak of 741,000 in January. Economists had been expecting a loss of more than 100,000 in November...How much should we make of one month’s report? It’s probably best to be conservative. I’d be surprised if this rate of progress continues in coming months. But this is still very good news: many fewer people were out of work last month than expected.