The unemployment rate dropped unexpectedly in January to 9.7 percent, while employers shed 20,000 jobs, according to a report that offered hope the economy will add jobs soon.
The unemployment rate dropped from 10 percent because a survey of households found the number of employed Americans rose by 541,000, the Labor Department said Friday. The job losses are calculated from a separate survey of employers.
Excluding the beleagured construction industry, which shed 75,000 jobs, the private sector added 63,000 positions.
The unemployment rate fell to its lowest level since August. John Silvia, chief economist at Wells Fargo, said the decline wasn't a result of a shrinking labor force, which has held the rate down in previous months.
"It simply was, people found jobs," he said. The report is "consistent with continued improvement in the labor market."
Asked by Anonymous at 10:13 AM on Feb. 5, 2010 in Politics & Current Events
Answer by tropicalmama at 10:29 AM on Feb. 5, 2010
Answer by NotPanicking at 10:31 AM on Feb. 5, 2010
Hope so, I know me and hubby found jobs in teh last month and two other women from our school board found jobs as well. At this time I only know 1 person who is still unemployed and he just became unemployed
Answer by sweet-a-kins at 10:33 AM on Feb. 5, 2010
No-wrong. People ran out of un-employment benefits and are no longer tracked as un-employed. If you are still jobless after 6 months you are dropped by unemployment and there fore no longer have to report your job status.
Answer by Anonymous at 10:35 AM on Feb. 5, 2010
Answer by Anonymous at 10:36 AM on Feb. 5, 2010
Answer by mamakirs at 10:37 AM on Feb. 5, 2010
Answer by tnmomofive at 10:48 AM on Feb. 5, 2010
Answer by mancosmomma at 10:57 AM on Feb. 5, 2010
Many unemployed people have also taken part-time jobs because they can't find full-time work. Yet that is counted the same as if they had full-time jobs.
If you find part time work you can still collect partial unemployment
Answer by sweet-a-kins at 11:08 AM on Feb. 5, 2010
My town's unemployment rate is sitting idle at 14.7%. State is also idle around 10.9%. Foreclosures are at their highest numbers in 13 years. Not much positive occurring despite the $8.2 billion Ohio received/receiving from Obama's Liberal Spend-tacular Stim-o-rama "Recovery" Scam America Act of 2009.
Answer by grlygrlz2 at 11:22 AM on Feb. 5, 2010