Friday, January 06, 2012

Good news on the unemployment front

This comes from the Financial Times, and was posted at 9:20 a.m. EST:
The US economy added a better than expected 200,000 jobs in December and the unemployment rate dropped to the lowest level in nearly three years, confirming recent signs that the recovery is gaining pace.

The improvement in payrolls was the strongest in three months and well above expectations of 155,000 new positions. The unemployment rate ticked down to 8.5 per cent in December – the lowest since February 2009 – from a revised 8.7 per cent the previous month. The rate had unexpectedly dropped sharply in November as more discouraged people stopped looking for work. Economists had expected the rate to rise slightly last month as Americans re-entered the workforce.

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