National Unemployment Rate Falls to 9%
The nation’s unemployment rate dropped to 9.0 percent in January, although employers added just 36,000 jobs to their payrolls, according to figures just released by the Department of Labor.
January’s rate is down from 9.4 percent in December, and is the lowest jobless reading reported by the federal government in two years.
The market was expecting the drop. The Dow Jones Industrial Average broke 12,000 on Thursday in anticipation of the decline. Analysts were looking for a healthier number of new jobs to be added during the month, however. Winter weather conditions are being blamed for the worse-than-hoped results.
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Posted on Fri, February 4, 2011