Nov. jobless rate falls to 10 pct., 11K job cuts

In this Dec. 1, 2009 photo, job seeker Lenore Price, right, of Philadelphia, meets with Rose Paschoaletto with Mary Kay during a job fair in Philadelphia. The unemployment rate fell to 10 percent in November as employers cut the smallest number of jobs since the recession began.(AP Photo/Matt Rourke)

December 4, 2009 1:11:53 PM PST
President Obama is touting it as the best jobs report since 2007. Labor Department statistics released on Friday show unemployment dropped from 10.2 to 10 percent, nationwide. Eleven thousand jobs were cut last month; economists were expecting to hear more than 100,000 jobs had been lost. California's jobless rate remains high at 12.5 percent.

The trends are being noticed locally with more part-time and temporary jobs.

Michael Dorame of San Francisco is back at Manpower Employment Services again looking for work. He just finished up a temporary job he got with Manpower and hopes to get back into human resources work full-time and soon.

"Now I'm starting to see some HR jobs, and outside of that, I'm also starting to see recruiter jobs which are the first ones to usually go when the economy is challenging. So right now because I see those particular jobs it's kind of exciting," said Dorame.

Manpower branch manager Thomas Baity says Dorame's optimism is supported by what he's hearing from hiring managers.

"They're looking at one of their critical positions that they need to fill. They are making plans to hire for those roles and they are looking at kind of a second stage of the economy as it continues to improve and what other positions they might bring on," said Baity.

But Moody's Chief Economist, John Lonski, says November's rosy jobs report may give way to reality when the next set of numbers comes in.

"The report on November's employment situation was very much a big upside surprise. It was almost too good to be true. I wouldn't be totally shocked if we retreat a bit in the month of December," said Lonski.

And Frank Murphy agrees with Lonski. Murphy has been out of work for more than a year.

"You go to some place and you might not get a job, but you have to keep moving on. You can't worry about what is not happening. You have to continue to try and get something going on. It is pretty rough out there, but the tough have to keep moving," said Murphy.

More and more economists are agreeing that we may have seen the worst of the recession.