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Unemployment rate hits 8.3 pct. after hiring burst



Published: Fri, February 3, 2012 @ 11:06 a.m.

Unemployment rate hits 8.3 pct. after hiring burst

WASHINGTON (AP) — In the most impressive surge for the job market since the middle of last decade, the United States added 243,000 jobs in January, far more than economists expected. The unemployment rate dropped to 8.3 percent, the lowest in three years. Hiring accelerated across the economy and up and down the pay scale. The high-salary professional services industry added 70,000 jobs, the most in 10 months. Manufacturing added 50,000, the most in a year.


Comments

1Nonsocialist(710 comments)posted 2 years, 5 months ago

http://data.bls.gov/timeseries/LNS113...

The participation rate really declined beginning in January 2009. What happened in January of 2009?

http://www.zerohedge.com/news/record-...

The naive read the Vindy and believe that it is not propaganda.

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2300(553 comments)posted 2 years, 5 months ago

So the LFPR decreased? I wonder what on earth could explain that (insert high levels of sarcasm).

Nonsocialist, you're name should be "Noninformed".

Anyone with even a modicum of economic understanding knows exactly why this is the case. I'll let you guess, while you call others naive. All the while, you're hopelessly out of touch with why the LFPR has shifted downward. Or at least the major demographic reason behind this.

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3Ianacek(891 comments)posted 2 years, 5 months ago

Most of the abor force participation rate movements are just a reflection of demographics . They started rising about 1968 as increasing numbers of the huge baby boom generation entered the workforce & declined after 2003 as they started leaving the workforce . Generations X & Y have been smaller in number ; so the decline will continue .

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