Figures released by the Labor Department on Friday revealed that for the month of November, employers across America cut fewer jobs than expected for the first time since the recession began, leading to a sudden and unexpected fall in the rate of unemployment. The numbers seem to signal toward a steadily improving economy and have managed to raise optimism for the coming times.

Contrary to the estimate pegged by 82 economists polled by Bloomberg News who estimated that 125,000 jobs would be cut, only 11,000 figures fell from the country's payrolls in November, pulling down the rate of jobless to 10%.

Treasury Secretary Timothy Geithner said that he believes that the rate of unemployment for the complete year will be lower than 10%, while asserting that the economic recovery seems to be moving from a period of job losses to gains.

"The key test is when you see companies across the country starting to create jobs and add to payrolls. We're getting closer to that point. The economy is now growing, and growth seems to be gradually strengthening. You see pockets of real strength now in technology and exports", shared Mr. Geithner.

Among the big names that have started hiring again are Google and The Mountain View.