Unemployment and job cuts reducing in the US

The unemployment rate in the US fell from 10.2 percent in October to 10 percent in November, as employers cut the fewest number of jobs since the recession, according to US federal data. The   underemployment rate in the country-which counts part-time employees searching for full-time jobs and people who want work but have given up their job hunt-also reduced from 17.5 percent in October to 17.2 percent in November.

The report also indicated that companies may start hiring again.

“This confirms the idea that the recession is over and has been over for several months,” Neal Soss, chief economist at Credit Suisse in New York told Bloomberg.