Gary's Blog

Tuesday, February 9, 2010

Jobless Rate Improves

January's unemployment rate is down to 9.7% from 10%, that is good news! It was the first drop in seven months. The Labor Department survey found that 541,000 more Americans had jobs in January compared to December.
- The number of part time workers who want full-time work but cannot find it fell by nearly 1 million.
- The average workweek grew to 33.3 hours from 33.2.
- Temporary-help services added 52,000 jobs, the fourth monthly gain
- The manufacturing sector added jobs for the first time since January 2007.
- Retailers added 42,100 jobs, the most since November 2007, before the recession began.

In a separate report, productivity rose by a seasonally adjusted 6.2% in the fourth quarter. That was the third straight quarter of sharp gains.

CNN, eat your heart out! They hate good news!

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