|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Sunday 06th of March 2011
March 4, 2011    

US unemployment rate drops further to 8.9%

Bookmark and Share

by Kay Murchie

The Labor Department has today revealed the unemployment rate in the US has fallen again from 9% in January to 8.9% in February.

It represents the third consecutive month that the rate has fallen with the economy creating 192,000 jobs in the month - far better than expectations.

However, the total number of unemployed people is currently at 13.7 million - almost double level prior to the recession.

President Barack Obama’s top economic adviser described the figures as an “encouraging” sign that the jobs market is getting back on track.

However, the results are somewhat overshadowed as Government spending cuts and surging oil prices threaten the recovery of the world’s largest economy.

Earlier this week, Federal Reserve chairman, Ben Bernanke, warned that a prolonged rise in oil prices would pose a danger to economic growth in the US.

In addition, outplacement firm Challenger, Gray and Christmas, said surging oil prices “could impact employers’ staffing decisions over the next six months.”

Discuss this in the Finance Markets forums

Story link: US unemployment rate drops further to 8.9%

Related financial stories to: US unemployment rate drops further to 8.9%:
Previous: «
Next: »

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: danger, , encouraging, , , , , , , ,

Visited 354 times, 4 so far today