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Is this a trend for unemployment?

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."

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Anonymous

Asked by Anonymous at 10:13 AM on Feb. 5, 2010 in Politics & Current Events

Answers (18)
  • My only problem with it is the assumption that people found jobs. A lot of them probably simply ran out of benefits. I know for me, I am about to run out of benefits, but I still can't find a job. My area was hit hard, b/c about 90% of our economy was relying on the construction industry, so when it began to sink, everything sank. It would be great if the rate was dropping b/c people are finding jobs, but I just don't know that that is the case.
    tropicalmama

    Answer by tropicalmama at 10:29 AM on Feb. 5, 2010

  • The trend for unemployment is they yell really loud and release good numbers, and then a few weeks later they re-evaluate and adjust them to higher percentages, hoping nobody will notice. That's a trend you can research and see consistently for quite a while.
    NotPanicking

    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


     

    sweet-a-kins

    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.

    Anonymous

    Answer by Anonymous at 10:35 AM on Feb. 5, 2010

  • this years census will give much better numbers if everyone reports as they should.
    Anonymous

    Answer by Anonymous at 10:36 AM on Feb. 5, 2010

  • I also don't think it takes in to account the vast number of people who are very under employed
    mamakirs

    Answer by mamakirs at 10:37 AM on Feb. 5, 2010

  • I posted about a county next to mine who is now @ over 18 percent unenjoyment..and one of the only big companies in the area is about to lay off 250 people which of course will have a nasty effect on all of the other small business owners in that area.
    Knox county has another big company about to do a huge lay off...

    Anyway I agree with the other ladies here stating that alot of these folks could be those who ran out of unenjoyment and being clasified as now having jobs
    tnmomofive

    Answer by tnmomofive at 10:48 AM on Feb. 5, 2010

  • Mamakirs, you have that right. Both my DH and I are self-employed, as are many of our friends. All of us have seen a marked drop in work. I have friends in construction who have a job, but only work 3 days a week instead of 5. Everyone, including my doctor, has seen a drop in work and income.

    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.
    mancosmomma

    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

    sweet-a-kins

    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.

    grlygrlz2

    Answer by grlygrlz2 at 11:22 AM on Feb. 5, 2010

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