US Unemployment Dips Below 9 Percent
US Unemployment Dips Below 9 Percent
The US unemployment rate has fallen below 9 percent for the first time since April 2009, the Labor Department reported on Friday, as employers stepped up hiring and workers returned to their jobs after extreme weather events shut down the East Coast in January.
The report showed the economy added 192,000 jobs in February, with payrolls expanding in the manufacturing, professional and business services, education, and healthcare industries all advancing while retailers cut jobs. Federal payrolls remained flat while state and local governments cut 30,000 jobs as they struggled to make budgets.
Private employers added 222,000 jobs in February, the biggest gain since last April. The Labor Department's data seems to show that companies are gaining confidence in the overall economy as well as their own near-term financial prospects, boosting hopes that businesses will ramp up hiring efforts to boost the ongoing recovery.
The nation's jobless rate, at 8.9 percent, is at its lowest since April 2009. It has fallen now for three straight months, from 9.8 percent in November. The 0.9 percent improvement is the largest in three months since 1983.
The 192k jobs gained in February is a stark improvement over the 63,000 added in January, and the gains were fairly broad-cased. US factories added 33,000 jobs, education and health care were expanded by 40,000, 47,000 positions were added in the professional and business services sector, and 21,000 hires workers were added in the US leisure and hospitality sector. Construction companies, the hardest-hit industry from January's East Coast snow storms, added 33,000 jobs, while the transportation and warehousing industries expanded by a combined 22,000 jobs.
The number of Americans on “long-term” unemployment, those out of work for at least six months, fell to 5.99 million, a decrease of 217,000 from the previous month.
The US unemployment rate has fallen below 9 percent for the first time since April 2009, the Labor Department reported on Friday, as employers stepped up hiring and workers returned to their jobs after extreme weather events shut down the East Coast in January.
The report showed the economy added 192,000 jobs in February, with payrolls expanding in the manufacturing, professional and business services, education, and healthcare industries all advancing while retailers cut jobs. Federal payrolls remained flat while state and local governments cut 30,000 jobs as they struggled to make budgets.
Private employers added 222,000 jobs in February, the biggest gain since last April. The Labor Department's data seems to show that companies are gaining confidence in the overall economy as well as their own near-term financial prospects, boosting hopes that businesses will ramp up hiring efforts to boost the ongoing recovery.
The nation's jobless rate, at 8.9 percent, is at its lowest since April 2009. It has fallen now for three straight months, from 9.8 percent in November. The 0.9 percent improvement is the largest in three months since 1983.
The 192k jobs gained in February is a stark improvement over the 63,000 added in January, and the gains were fairly broad-cased. US factories added 33,000 jobs, education and health care were expanded by 40,000, 47,000 positions were added in the professional and business services sector, and 21,000 hires workers were added in the US leisure and hospitality sector. Construction companies, the hardest-hit industry from January's East Coast snow storms, added 33,000 jobs, while the transportation and warehousing industries expanded by a combined 22,000 jobs.
The number of Americans on “long-term” unemployment, those out of work for at least six months, fell to 5.99 million, a decrease of 217,000 from the previous month.
Comments
Top Stories
Latest DT's
-
1 month ago by Geno -
1 month ago by dallaseste
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by dallaseste
Top Authors
Subscribe
Games
Alias
3 Foot Ninja 2
ALIAS 2
Air Dodge
Battle Tanks
Bomber Bob
Cable Capers
Gem Mania
Hacker
Hostile Skies
Mission Mars
Bowling
Samurai Warrior
The Pharoh's Tomb
Monkey Lander
Muay Thai
Action
Donkey Kong Banana Barrage
501 Dart Challenge
Rooftop Skater
Zelda
Donkey Kong
Xtreme Pinball
Tetris
Connect 4
Battleships
Frogger
Penguin Push
Online Video Poker
Spank The Monkey
Mob Pay Back
Dealer
Yeti Sports Seal Bounce
Hold Your Drink Steady
Solitaire
Canyon Glider
3D Sudoku
Metal Slug Rampage
Street Fighter II
Flashman
Disc Golf
Table Tennis
Ninja Air Combat
Celebrity Hitman Terrorist Alert
Spider Solitaire
Tubin
Presidential Knockout
Global Player
Ma Balls
Baseball
Beckham Fit
0 Comments
Click here to sign up now.