December 4, 2009 | | Leave a comment There was hardly any drop in the unemployment rate or job losses in November. This gives investors a hope that the economy is recovering. In October the rate was 10.2 percent in October and only 10 percent in November. This is the fewest number of jobs cut since the recession began. In two years alone 7.2 million jobs were lost. But the market has turned a corner. There was also an increase in the average work week and earnings. The Labor Department reported that 159,000 fewer jobs were lost in September and October than first reported. The problem is that even though the economy is growing we also need jobs being created. Even though we are making progress don't get too excited yet. This growth could be temporary. And job creation is not expected to rapidly create 15.4 million jobs for the unemployed along with the 11.5 million underemployed workers. The economy is still weak but these baby steps are the way to recovery. "We've still got a long way to go, but the good news in this report provides important positive momentum" said Carl Riccadonna senior economist for the U.S. Deutsche Bank. As long as we have increases in work hours and fewer job losses that means there is more income. Average weekly earnings even jumped by $4.08 to $622.17 he said. The head of the president's Council of Economic Advisers Christina Romer reported that "I do think it is a hopeful sign. We have seen the economic recovery in the sense of GDP growing again, we have seen stabilization in our financial markets. I think this could be a sign that it's finally getting to the job market." There is light at the end of the tunnel. Eventually, the economy will get back on its feet. Until then just keep trying to stay out of debt and cut your expenses in order to make ends meet. The economy seems to be stabilizing and it will take time but it will get back to normal.