USA - The latest US Unemployment statistics have been released.

Nonfarm payroll employment continued to decline in January (-20,000), and the unemployment dropped 0.3% to 9.70 percent, the U.S. Bureau of Labor Statistics reported today. Although job losses continued in many of the major industry sectors in January. Employment fell in construction and in transportation and warehousing, while temporary help services and retail trade added jobs.

In January, the number of unemployed persons decreased by 325,000 to 14.8 million, and the unemployment rate dropped 0.3 to 9.7 percent. This is not really an improvement, it is really due to a larger number of so called discouraged workers.

Since the start of the recession in December 2007, the number of unemployed persons has risen by 7.5 million, and the unemployment rate has grown by 4.8 percentage points.

More than double the rate that it was at the beginning of the recession.





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