The U.S. economy added a paltry 36,000 jobs in January, the government said Friday. Bad weather likely contributed to the weaker-than-expected hiring, but the report also suggests that many employers remain reluctant to hire despite a strengthening economic recovery.
Even so, the nation’s unemployment rate fell dramatically for the second month in a row. It dropped to 9 percent in January, from 9.4 percent in December and 9.8% in November.
But as in December, the official unemployment rate dropped in part because many more workers left the labor market -– an indication that many people aren’t finding opportunities or don’t believe there’s a job for them in the current economy.
– Don Lee
“A chilling start to 2011,” declared the Conference Board’s chief economist, Bart van Ark. “The U.S. labor market remains unable to catch the recovery momentum of the broader economy.”
There were some positive signs in Friday’s report from the Bureau of Labor Statistics. Manufacturing payrolls were up 49,000 over the month, and retail employers added 27,500 jobs. Government, financial services, transportation and the temporary-help sector shed jobs in January.
Government officials also revised higher the job growth at the end of last year. And that shows an improving trend in hiring, although still not at a very rapid pace. In the fourth quarter, the private sector added an average of 153,000 jobs a month, up from 124,000 in the third quarter.
don.lee@latimes.com
Number don’t lie, but economists do, I want to see how they spin this into something positive and this is just the beginning, Bernanke’s goal to devalue the dollar is working, commodities are starting to skyrocket with no end in sight and the American people are the casualties………..more at anangryman.com
I haven’t bothered to do this and perhaps I may – I should log the headline for this week by week including the excuses for why their predictions are ALWAYS wrong er I mean the outcome was “unexpected”.
Bottom line is this, actual unemployment (people who have lost jobs, people who never had one and can’t find one) gets higher each and everyday.
Don’t believe everthing you read. Companies are laying off people left and right to meet their year end earnings. They can play with these numbers and make them look anyway they want. Foreclusres are up, unemployment is up, prices for prodcuts are up, and salaries are down, property values are down, and the ecnomy along with the national debt, state debt and city debt are all in the tanker…..there is no end in sight!
This BS, there are uncounted thousands that have ran out of unemployment benefits thatdo not show up in the 9% number that we are being told is a drop in the unemployed.
This is BS, there are uncounted thousands that have ran out of unemployment benefits that do not show up in the 9% number that we are being told, is a drop in the unemployed.
You cannot trust our government presently for providing correct information, or better our government nowdays supplies information in advance of negative information being released knowing that what they are saying is wrong.
Bad weather likely contributed to the weaker-than-expected hiring
The weather was fine until Tuesday and Wednesday of this week. What do they think we are stupid?
Intersting article. During the recession of 2002, when unemployment was around 6%, didn’t the media call it a “jobless recovery”? I’m guessing most poeple would be happy with a “jobless recovery” like that right now.
James-
Weather tends to happen in more places than just the Chicago area. There has been poor weather all along the east coast for the entire month.
Typical government BS. They don’t account for the UNDEREMPLOYED who have taken to flipping burgers TEMPORARILY until they can find something at a living wage, and they dont count those who have GIVEN UP! The UE rate is over 17% now. It’s NOT improving.
Looks like they are trying to take away my unemployment by using fuzzy math? The company I worked for closed 8 months ago and since then I have been on interviews competing against HUNDREDS of others. 9%….guess again!!!
Most people, no matter what your politics might, believe any of these numbers anymore. You noticed they don’t get on TV yelling about this at the top of their lungs. Because as many of you have said the only explanation for this drop is that people have fallen off the rolls or have simply stopped looking.
oops
Most people, no matter what your politics might be, remotely believe any of these numbers anymore. You noticed they don’t get on TV yelling about this at the top of their lungs. Because as many of you have said, the only explanation for this drop is that people have fallen off the rolls or have simply stopped looking.
@CJ…It’s February. Year end was last month. think about it
@all other morons commenting…Mix of Republicans who hate anything positive about our President and un-employable. That is the real problem in America. There is a pervasive class of anti-intellectual people that are un-employable. They will never get jobs bc school is for East Coast elitists. Too bad you voted Republican and all your rote, repetitive manufacturing jobs are in China.
Go back to school. Whoops, Republicans are holding out on job training programs. Don’t believe me, read the news on a consistent basis.
ah yes martin, you are right. that’s what I get for trying to sneak in a read and a comment at work. My Bad.
“But as in December, the official unemployment rate dropped in part because many more workers left the labor market -– an indication that many people aren’t finding opportunities or don’t believe there’s a job for them in the current economy”
Of course, this fact will not stop Obama from spinning about how great he is in handling the economy. LOL.
“This is BS, there are uncounted thousands that have ran out of unemployment benefits that do not show up in the 9% number that we are being told, is a drop in the unemployed.”
Utterly, 100% incorrect. The unemployment rate is not derived from a count of people receiving UI benefits.
http://bls.gov/cps/faq.htm#Ques10