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Jobless rate falls but doesn't impress

  • Economists expected more jobs to be created in January than there actually were. The rate of unemployment dropped from 6.7 percent to 6.6 percent and labor force participation increased as well, proving the fact the unemployment rate didn't decrease because people stopped looking for work. 

    Despite these facts, the Journal columnists aren't too impressed since "hiring was surprisingly weak in January for the second straight month, likely renewing concern that the US economy might be slowing after a strong finish last year."

    December's report showed an addition of only 1k jobs while November saw an increase in 33k jobs, to a total of 274k. 

    Tagged as: increase in jobs, unemployment rate, decrease unemployment, money news, business news