Friday, February 4

US Unemployment Rate Continues to Fall

The US Unemployment rate continued it's decline as the Labor Department announced today that the unemployment rate recorded its largest 2 month decline since 1958.

Economists had predicted a growth of 145,000 jobs for last month.

The Labor Department announced that the figure had not been reached and a pickup of only 36,000 had been achieved in the month of January.

Even with the modest advance in employment the unemployment rate has finally fallen to 9%.

A move in the right direction.

The data is compiled by the combination of two separate reports:
The Business and Government Agency report (polls 140,000 businesses and Government agencies) and the Household report (polling 60,000 households).

The Household report showed that employment rose by 589,000 over the previous two month period.

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