Unemployment falls, few jobs added - Trade Only Today

Unemployment falls, few jobs added

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The unemployment rate fell to 9 percent in January, down from 9.4 percent in December, with 36,000 jobs added last month, the U.S. Bureau of Labor Statistics reported today.

Employment rose in manufacturing and retail trade, but was down in construction and in transportation and warehousing. Employment in most other major industries changed little during the month.

The number of people employed part time for economic reasons declined from 8.9 million to 8.4 million in January. They were working part time because their hours were cut or because they were unable to find a full-time job.

In January, 2.8 million people were marginally attached to the labor force, up from 2.5 million a year earlier. These people were not in the labor force, but wanted and were available for work and had looked for a job sometime in the prior 12 months.

They were not counted as unemployed because they had not searched for work in the four weeks preceding the survey.

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