National Unemployment Rate Drops Back to 10% in November 2009

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November 2009 showed an unexpected improvement in the national unemployment rate. While analysts had been expecting to see very modest improvement in the employment picture overall, the drop to 10% offered a pleasant surprise for many. Indeed, the employment picture for November showed marked improvement, with 36 states and the District of Columbia showing decreases in the unemployment rate.

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Only eight states showed an increase in the unemployment rate for the month of November, and six states registered no change. Nonfarm payroll employment in 19 states actually increased, with Texas leading the pack again this month by adding 17,300 jobs. Ohio also showed an increase in employment, adding 5,400 jobs. Georgia, Arizona and Iowa posted employment gains.

Michigan was actually surpassed in job losses in November as Florida saw a decrease in jobs to the amount of 16,700 to Michigan’s 14,000. Michigan still has the highest unemployment rate, though, with 14.7%, while North Dakota continues with a persistently low 4.1% unemployment rate. The Pacific west, led by California, continues to be the geographic region with the highest unemployment rate.

This news provides further clues that the job market continues to stabilize. Fewer states are seeing significant increases in unemployment, and an increasing number of states are adding jobs to the economy. However, even though November’s data was encouraging, there have still been some setbacks since then in terms of jobless claims. This means that the November improvements may not carry over to December.

Even with the better news, it is important to note that the jobs market recovery is likely to continue to take some time, and that the unemployment rate will probably hover within one or two points of 10% for several months to come.