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Jobless rate falls to 9.4 percent, hits lowest mark since May '09
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Contributor | Brandonius Maximus |
Last Edited | Brandonius Maximus Jan 07, 2011 09:16am |
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Category | News |
Author | Ian Swanson |
News Date | Friday, January 7, 2011 03:15:00 PM UTC0:0 |
Description | The nation’s unemployment rate fell to 9.4 percent in December, hitting its lowest rate since May 2009.
The economy added only 103,000 jobs in December, less than forecast by private analysts, but the Department of Labor revised statistics for the previous two months showed stronger growth.
In November, Labor revised figures to show the economy gained 71,000 jobs instead of the 39,000 first estimated. In October, the revised figures showed 210,000 jobs were created, more than the 172,000 first projected.
The sharp decline in the jobless rate will be welcome news to the White House and Republicans. Still, the creation of only 103,000 jobs for the month will be a disappointment. Private forecasters had expected to see as many as 170,000 jobs created. |
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