Saturday, 8 August 2009

US unemployment rate falls

Yet another indication on Friday that the US economy is turning around. Bloomberg reports the latest job numbers.

The pace of U.S. job losses slowed more than forecast last month and the unemployment rate dropped for the first time in more than a year, the clearest signs yet the worst slump since the Great Depression may be ending.

Payrolls fell by 247,000, after a 443,000 loss in June, the Labor Department said today in Washington. The jobless rate unexpectedly dropped to 9.4 percent from 9.5 percent...

Today’s report also showed the average work week expanded to 33.1 hours in July from 33 hours in the prior month. Average weekly hours worked by production workers increased to 39.8 hours from 39.5 hours, while overtime held at 2.9 hours for a second month. That brought the average weekly earnings up to $614.34 from $611.49.

The reactions to the report from economists were largely positive.

No comments:

Post a Comment