Friday, February 4, 2011

Unemployment Rate Falls to 9%

The United States gains 36,000 jobs and the unemployment rate drops 0.4% to 9%; this is just a continuation of discouraging our way to better unemployment numbers. That is to say that the drop is not a sign of an improving economy, but could even be the opposite. So many people are just giving up hope of finding a job that they have stopped looking and are no longer counted.

http://www.zerohedge.com/article/nfp-36000-huge-miss-146000-expectations-9-unemployment

"The unemployment rate fell by 0.4 percentage point to 9.0 percent in January, while nonfarm payroll employment changed little (+36,000), the U.S. Bureau of Labor Statistics reported today. Employment rose in manufacturing and in retail trade but was down in construction and in transportation and warehousing. Employment in most other major industries changed little over the month.

The unemployment rate (9.0 percent) declined by 0.4 percentage point for the second month in a row. (See table A-1.) The number of unemployed persons decreased by about 600,000 in January to 13.9 million, while the labor force was unchanged.
"

To put this in the contexts of the last year and a half; after rising to %9.5, 'fake' falling to %9.4, rising to %9.7, and then rising again to 9.8%, and rising again to 10.2%, dropping to 10%, held steady, dropping to 9.7%, held steady, held steady again, increased to 9.9%, dropped to 9.7%, fell to 9.5%, holding steady, rising a tick to 9.6%, held steady, held steady again, increased to 9.8%, 'fake' falling to 9.4%, and 'fake fallen' again to 9%.

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