Unemployment Rate Drops, But It Isn’t All Good News

In January, the unemployment rate dropped to 9.0%, according to the U.S. Labor Department.  That sounds like great news, except that the other big number isn’t so big.  That would be the number of jobs created in January, which was only 36,000 jobs (that not according to Dept. of Labor, but a separate survey).  In order for meaningful improvements to the economy, we need to add more like 200,000 jobs a month to get back to pre-recession employment.  Canada, which already has a significantly lower unemployment rate than the U.S., added nearly 70,000 jobs.  Yes, that’s right, Canada added more jobs than the U.S.

Advertisements

Comments Off on Unemployment Rate Drops, But It Isn’t All Good News

Filed under The Economy

Comments are closed.