PREVIEW-US job cuts slowed in Nov, jobless rate seen steady
December 5, 2009 by admin
Filed under Career News and Advice
* What: U.S. employment situation report for November
* Nonfarm payrolls seen falling 130,000
* Unemployment rate seen steady at 10.2 pct
* When: Friday, Dec. 4 at 8:30 a.m. (1330 GMT)
By Lucia Mutikani
WASHINGTON, Dec 4 (Reuters) – Job losses in the United States slowed sharply in November, cushioned by seasonal adjustments and a budding economic recovery that is encouraging some companies to retain workers, a Reuters survey predicts.
Analysts said even without seasonal factors related to retail sector hiring, there were clear signs that the labor market was edging towards stability and the deterioration in nonfarm payrolls was in its final stages.
The survey of 72 economists forecast U.S. employers cut 130,000 jobs this month after reducing payrolls by 190,000 in October. While this would be the smallest decline since July last year, it would also mark the 23rd straight monthly drop in payrolls.
The unemployment rate, which is derived from the Labor Department’s survey of households, was seen steady at a 26-1/2 year high of 10.2 percent.
The department will release its employment situation report on Friday…