Unemployment Rate Drops in January
According to the Bureau of Labor Statistics, the unemployment rate fell from 10.0 to 9.7 percent in this January. According to the Associated Press, this report offers hope that employers may start adding jobs soon. The rate is lower than it has been since August.
As the AP reports, experts have different views on what the decreased rate may mean. According to John Silvia, an economist at Wells Fargo, "it simply was, people found jobs," he said. The report is "consistent with continued improvement in the labor market." However, according to Paul Ashworth, an economist at Capital Economics, "Based on what we've seen so far, we think it is fair to characterize this as another jobless recovery."
Jobs will remain scarce, economists say, even as the economy is recovering. Employers want to make certain they are stable before they will hire new workers again.
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