Dollar Soars After Latest Jobs Report Shows Fewer Jobs Lost in November

On Friday, the US Department of Labor announced that in November unemployment fell to 10 percent as the US lost just 11,000 last month. That news shocked Wall Street, and instantly sent stock futures, the dollar and interest rates surging.

Analysts has been expecting unemployment to rise yet again from October, when the unemployment rate had been at 10.2 percent. They had expected it to hit 10.3 percent. Economists also predicted doom and gloom, estimated that the country would lose 125,000 jobs in November.

The Labor Dept. also revised job loss figures for September and October, indicating that 159,000 fewer jobs were lost between September and November than initially calculated.

The manufacturing and construction industries continued to shrink, but professional services, education and health care posted gains in November.