| Don't Be Fooled By Lower Unemployment Rate, Job Losses Continue to Mount |
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Aaron Task writes for Tech Ticker February 5: The U.S. economy shed 20,000 jobs in January, a tad worse than expectations for a reading of flat to up 15,000. The unemployment rate unexpectedly fell to 9.7%, a five-month low. A falling unemployment rate is certainly good news for the Obama administration, and temporary hiring, which typically leads to permanent hiring, was up by 52,000. In addition, the average hourly workweek rose to its highest level since February 2009 and average hourly earnings were up as well. Another positive sign: The labor force grew by 111,000 last month and the so-called real employment rate fell to 16.5% from 17.3%. To read more and view Aaron Task's interview of Henry Blodgett, click the link below: |
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