President Obama welcomed the fact that the U.S. has reportedly only lost 11,000 jobs in November, according to the New York Times.
Speaking in Allentown, Pa. Friday, the president also expressed caution, and saying, "we have a lot more work to do before we can celebrate." He also commented that the nation still needs to find new ways to create jobs.
The Labor Department reported Friday that the unemployment rate fell below than anytime since the start of the recession, according to NPR.
The unemployment decline was a surprise to most economists and the data was the strongest sine December 2007 when the recession first began, according to USA Today.
Republicans have produced a different perspective on the report, with House Republican Leader John Boehner, R-Ohio, saying anyone who celebrates Friday's report "is out of touch with the American people."