The US unemployment rate fell to a four-year low last month, according to a report issued Friday by the Labor Department, slipping from 7.7 percent to 7.6 percent. The decline was unexpected by economists that took part in a recent Bloomberg survey, which called for the jobless rate to hold steady, but that was where the good news ended with Friday's jobs report. The nation's still-recovering economy produced just 88,000 new jobs last month according to the report, falling well short of the 190,000 jobs expected by the economists in the Bloomberg survey, on average. Even worse news is that the dip in the jobless rate only came about because another 500,000 Americans fell out of the job market, either because their unemployment benefits ran out or they just gave up looking for work.
The US Labor Department reported Monday that jobless rates rose in half of the 50 US states plus the District of Columbia in January, though the rates were still below the national average (7.9 percent at the time) in nearly half of those states. The agency also noted that jobless rates declined in just eight states while it remained steady in the other seventeen. Among the 50 US states, North Dakota continued to enjoy the lowest unemployment rate, at just 3.3 percent, while California and Rhode Island tied for the highest at 9.8 percent. Nevada, which had the highest jobless rate in December, saw its unemployment rate fall 2.3 percent to 9.7 percent, placing it just behind California and Rhode Island.
The US Labor Department issued its monthly report on the job market for February on Friday, boosting stocks with the news that the unemployment rate fell to a four-year low. The jobless rate slipped to 7.7 percent last month, according to the report, matching a level not seen since December 2008. In January, the unemployment rate rose for the first time since the recession, but most analysts saw it as a temporary blip and expected job gains to continue. Friday's report offers evidence of the validity of that sentiment. Stocks, meanwhile, have been flirting with all-time highs since last week, when the Dow Jones industrial average topped 14,000 for the first time in five years.
The US Labor Department reported Friday that the economy added a worse-than-expected 157,000 jobs in January as millions of Americans continued to struggle through unemployment and underemployment. Investors were pleased, however, with the agency's revisions to data for the last few months of 2012 which showed an extra 335,000 jobs were created than initially reported. Combines with a series of mostly positive corporate earnings reports, the revisions buoyed investors to the point that both the Dow Jones and S&P 500 reached 5-year highs and are flirting with their highest levels ever.
The US Labor Department reported Friday that the private sector added 146,000 jobs last month, driving the nation's unemployment rate to its lowest level in four years. The report drove stocks higher on the day, though some economists warned that the drop in jobless rate was primarily caused by about 350,000 Americans giving up on finding work. Nonetheless, the jobs gained were nearly double the consensus estimate from economists in a recent Bloomberg poll and the decline in jobless rate was surprising given that the economists had expected a slight rise.
The US Labor Department reported Tuesday that unemployment rates in October declined in 42 of the 50 states plus the District of Columbia from a year earlier, while jobless rates rose in just eight. The report also showed rates fell from September in 37 states while rising in just seven. Analysts pointed to the data as evidence that the job market recovery is still ongoing despite the national jobless number rising from 7.8 percent to 7.9. September's rate unemployment percentage was the lowest on over three years, and 7.9 percent is still well below the post-recession high of 10 percent seen in 2009.
In a much needed boost to the economy and Obama's campaign, the
US unemployment rate dropped to 7.8% (previous month: 8.1%).
This was the lowest since the President took office.
A recent government survey suggests that 873K more citizens
have jobs, which was the largest increase since 2003.
The latest numbers brought the unemployment rate back to where it was when Obama was sworn into office. It also breaks a 43-month streak where unemployment was above 8%. Along with the latest positive retail & consumer credit numbers, the latest unemployment numbers suggests the economy might be gaining momentum.
Rampant unemployment in Greece and Spain conspired to drive the unemployment rate for the entire eurozone to its highest level since the currency was introduced in 1999. The jobless rate for the 17 countries that use the single currency rose to 10.7 percent in January, according to a report from the European Statistics Office, or Eurostat. That's slightly higher than December's unemployment rate of 10.6 percent and well above the jobless rate of 10.0 percent reported a year ago.
The US unemployment rate fell unexpectedly to 8.6 percent in November, its lowest level in some 2 and a half years, as companies ramped up hiring, according to the Labor Department's monthly gauge of labor market conditions, issued Friday. The report showed that nonfarm payrolls increased 120,000 last month, just short of the consensus projection of 122,000 expected by analysts in a recent MarketWatch survey.
In a positive sign for the struggling US housing market, unemployment rates fell 36 of the 50 states last month, and rose in just five. It's the highest number of states to experience a decline in joblessness sine April, when rates dropped in 39 states. On a national level, the unemployment rate edged down to 9.0 percent in October, from 9.1 percent the month before. Private employers across the nation added a total of 80,000 jobs in October, and government officials revised the previous two month's figures to show much stronger gains than initially reported.