Job Spectrum

Monday, May 21st

Last update09:18:40 AM GMT

You are here: News Regional US unemployment rate falls to 8.9%

US unemployment rate falls to 8.9%

US unemployment rate falls to 8.9%

The United States unemployment rate drops slightly to 8.9 percent in Feb., down from 9 percent the month before. It is the 3rd month in a row that the unemployment rate has fallen, with Feb.’s figure marking a near 2 year low.

Employers added 192,000 jobs last month, the United States Labor Department asserted, above market anticipations. Paul O'Neill, former United States Treasury Secretary, explained the data as "very positive". A Labor Department statement asserted most job gains had been in construction, business services, manufacturing and transport.

State and municipality slashed 30,000 jobs, probably the most since Nov. as budget cuts continue to bite. The data demonstrated that the joblessness rate for adult women was 8 percent, for adult men 8.7 percent, and for teenagers 23.9 percent.

The joblessness rate has come down from 9.8 percent in Nov. "We have stirred into the development phase from the economic cycle and also the economy is self-sustaining," Brian Levitt, an economist at Oppenheimer asserted.

Share/Save/Bookmark