Beverly Hills 2/6/2010 12:32:40 AM
News / Business

Jobless Rate Falls in January

Finance World News Update by EQUITIES Magazine

Despite employers’ unexpected cuts of 20,000 jobs in January, the unemployment rate fell to a five-month low of 9.7 percent. The numbers suggest that the labor market’s improvement may be beginning in earnest.

The Labor Department said the economy cast off 150,000 jobs in December, compared to the 85,000 previously reported. November was revised to a gain of 64,000, up from 4,000. Benchmark revisions to payrolls data show the economy has trimmed away 8.4 million jobs since the beginning of the recession in December 2007.

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