An improvement in the job market is giving rise to hopes that with people being able to pay for mortgages there would be a decrease in foreclosure numbers. In November the country saw 11,000 jobs vanish – much less than 125,000 that had been apprehended. Many economists are now thinking that the job sector will begin to recover at a faster pace.

Although a monthly gain in the job front has not been noted, for the first time after a gap of two years the economy of USA came very close to it. The payrolls of the employers dropped by 11,000 in November – far less than what had been reared. The unemployment rate also made a modest drop from 10.2% to 10%.

However the monthly reports indicate job losses and no gains but the job scenario is undoubtedly in a positive mood. The report hints that net gains in the job front might start off within the next couple of months or perhaps in few weeks time.

High unemployment and lack of confidence among consumers is raising the question about whether the pace of job recovery could turn out to be faster than expected by the forecasters. Perhaps it could turn into a V shaped recovery with the gains emerging from the recession reflecting the magnitude and speed of the losses endured during the time of the recession. Many of the experts had apprehended that November would have seen the loss of 125,000 jobs.

Ken Mayland of ClearView Economics, Cleveland said, “This was the best jobs report, payrolls-wise, since December 2007. It says that job gains are in sight pretty quickly.” Mayland expects the addition of nearly 1.5 million jobs in 2010. But although the pace would be welcome it could hardly fill up the vacuum made by the recession.

As per a survey conducted by National Association for Business Economics there will be gains of 3.5 million jobs during the next year calculating to the addition of 300,000 jobs each month. These gains would be the same as the gains made during the time of the recovery in the economy during the middle of the 90s decade. The majority of experts feel that in 2010 there would be 100,000 jobs per month.

Forecasts aside, what the Labor Department reports gives credence to the view that USA would not undergo a period of “jobles recovery” or even a “job-loss recovery”.