Business

Unemployment falls to 9.0 pct., only 36K new jobs

WASHINGTON (AP) — The unemployment rate dropped sharply last month to 9 percent, the lowest level in nearly two years. But the economy generated only 36,000 net new jobs, the fewest in four months.

The January report illustrates how job growth remains the economy’s weakest spot, even as other economic indicators point to a recovery that is strengthening.

Friday’s report offered a conflicting picture on hiring. Unemployment fell because the Labor Department’s household survey determined that more than a half-million people without jobs found work. The department conducts a separate survey of businesses, which showed tepid job creation. The two surveys sometimes diverge.

Severe winter weather likely reduced the number of jobs created. Harsh snowstorms last month cut into construction employment, which fell by 32,000, the most since May. Transportation and warehousing also fell by 38,000 — the most in a year.

In one bright spot, manufacturing added 49,000 jobs, the most since August 1998. And retailers added 28,000 jobs, the largest number in a year.

The unemployment rate has fallen by eight-tenths of a percentage point in the past two months. That’s the steepest two-month drop in nearly 53 years.

But part of that drop has occurred as many of those out of work gave up on their job searches. When unemployed people stop looking for jobs, the government no longer counts them as unemployed.

The number of people unemployed fell by more than 600,000 in January to 13.9 million. That’s still about double the total that were out of work before the recession began in December 2007.

The January report also includes the government’s annual revisions to the employment data, which showed that fewer jobs were created in 2010 than previously thought. All told, about 950,000 net new jobs were added last year, down from a previous estimate of 1.1 million. The economy lost about 8 million jobs in 2008 and 2009.

In the past three months, the economy generated an average of 83,000 net jobs per month. That’s not enough to keep up with population growth.

  • truebearing

    The United States, under the intentionally poor leadership of CommieBama added 36,000 jobs in January. Canada added 69,000!!! The United States has 10 times the population of Canada. If Canada’s population and economy were as large as ours, based on their jobs increase last month, they would have produced 690,000 jobs in January, nearly 20 times what Obama and the Democrats produced.

    Worse yet, if that’s possible, read and weep:

    “At 64.2%, the labor force participation rate (as a percentage of the total civilian noninstitutional population) is now at a fresh 26 year low, the lowest since March 1984, and is the only reason why the unemployment rate dropped to 9% (labor force declined from 153,690 to 153,186). Those not in the Labor Force has increased from 83.9 million to 86.2 million, or 2.2 million in one year! As for the numerator in the fraction, the number of unemployed, it has plunged from 15 million to 13.9 million in two months! The only reason for this is due to the increasing disenchantment of those who completely fall off the BLS rolls and no longer even try to look for a job. Lastly, we won’t even show what the labor force is as a percentage of total population. It is a vertical plunge.”

    http://www.zerohedge.com/article/labor-force-participations-plunges-fresh-26-year-low

    Obama and his Marxist co-conspirators are intentionally suppressing any recovery, and trying to destroy industry. What else explains Obama’s refusal to do anything that will help the economy? Despite these grim job numbers, Obama is sticking to his radical anti-energy policies, even as the Middle East is in turmoil and oil prices are going up, fast.

  • Joe Steel

    Hey Boehner!

    Where are the jobs.

    Not only are you not creating any, you’re forcing folks out of the labor market. They’ve seen the ugly face of Republican control and they’ve completely given-up any hope of getting a job.

    • johninnevada

      Joe,

      Private industry create jobs not the government. The government creates an environment that hopefully spurs job creation. Perhaps if you looked to yourself for support instead of your Messiah, you’d have a job. Two years of OBAMA-DRAMA and you think Boehner can fix it in 4 weeks…..how simplistic for you. Conservatives can’t rebuild at the rate OBAMA scorches earth. These figures are totally skewed but it gives folks like you a chance to excersise your mini-minds.

      • ladylove

        exactly

        and one week of those four weeks they shut down because of the AZ shootings.

      • Joe Steel

        According to the rightist talking points, private firms abhor “uncertainty.” That shouldn’t much of a problem now. With Republicans controlling the House, Democrats can’t do anything. That ended whatever “uncertainty” Democratic control created.

        Guess what, though? Job creation fell and folks stopped looking for jobs.

        I guess they’re not “uncertain” about the future. It’s bleak. Rightists screwed-up the economy for 30 years and now they ‘re going to make it worse. No “uncertainty” here. We’re in for a disaster of greater proportions than the one the rightists already have created.

    • ladylove

      what a lame attempt, at proving nothing

      it is what you do best, and nothing more.

    • truebearing

      Commie Joe,

      I see your game! You’re pretending to be a Commie in a clever effort to make the left look mind bogglingly stupid! You have succeeded magnificently!

      Sometimes I think you may give yourself away with comments this stupid, but it’s your disguise, and lefties are morons.

    • TommyV

      I can’t stop laughing at you. Thank you!

  • emem

    Bold faced lie! Labor Dept. doesn’t count everyone and 43 million are now on foodstamps.

    • emem

      43 million on foodstamps in country of 300ish million.

  • moira1987

    Lefty math: 2+2=5

    Incompetence? Or a deliberate (and obvious) attempt to mislead the American people.

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  • Babylonandon

    Creative lying, false statistics, spin,spin,spin.

    Anything to prop up Pharobama until they have all the pieces in place they need and then they will create the chaos they are counting on to overthrow the Constitution and implement Socialism in an almost overnight explosion like the one happening in Egypt.

    Egypt is a test run…a timed game sequence that is being generated to bring down the society to throw it into the hands of the desired partner for the Socialists – the Muslim Brotherhood. Once Egypt falls then they will bring down the rest of the Middle East, go to war with Israel, and shut down the oil production from the Middle East.

    Then the war comes to the West.

  • crich