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OOTIKOF / KATZENJAMMER :: Casual Banter :: Politics, Religion, Legal Issues, and Breaking News
 

 Unemployment Hits New Half-Century Low-

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Temple
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Temple


Posts : 7317
Join date : 2014-07-29

Unemployment Hits New Half-Century Low- Empty
PostSubject: Unemployment Hits New Half-Century Low-   Unemployment Hits New Half-Century Low- EmptySat Feb 04, 2023 6:18 pm
2-4-2023

Unemployment Hits New Half-Century Low.
the lowest level since 1969

The overall unemployment rate fell to 3.4 percent,

The January jobs report was far stronger than had been predicted, with the economy adding 517,000 jobs.

There was also a big increase in the length of the average workweek from 34.4 hours to 34.7 hours, which led to an extraordinary 1.2 percent rise in the index of aggregate hours.
The average hourly wage increased by 10 cents, bringing the annual increase over the last three months to 4.6 percent.
The overall unemployment rate fell to 3.4 percent, the lowest level since 1969.

The prior two months’ data was also revised up by 71,000. This brought the average gain over the last three months to 356,000 jobs.

Job Growth Was Widespread Across Industries
Almost all sectors reported job gains in January. Construction and manufacturing, which are usually
the sectors most sensitive to interest rate hikes, added 25,000 and 19,000 jobs, respectively. Even residential construction added 5,500 jobs. Employment in construction is now up 3.6 percent from pre-pandemic levels, while manufacturing is up 1.7 percent.

Restaurants and health care were the two biggest job gainers, adding 98,600 jobs and 58,200 jobs, respectively. Employment in health care is now 1.1 percent above its pre-pandemic level, while restaurant jobs are still down by 1.3 percent. Hotels added 14,800 jobs, but employment in the sector is still down by 11.9 percent from February of 2020. Retail added 30,100 jobs.


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Grackle

Grackle


Posts : 2495
Join date : 2017-09-09

Unemployment Hits New Half-Century Low- Empty
PostSubject: Re: Unemployment Hits New Half-Century Low-   Unemployment Hits New Half-Century Low- EmptySat Feb 04, 2023 8:34 pm
Inflation at the highest level in 40 years
... Joe Biden is the worst president in U.S. history
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Grackle

Grackle


Posts : 2495
Join date : 2017-09-09

Unemployment Hits New Half-Century Low- Empty
PostSubject: Re: Unemployment Hits New Half-Century Low-   Unemployment Hits New Half-Century Low- EmptySat Feb 04, 2023 8:46 pm
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Temple
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Temple


Posts : 7317
Join date : 2014-07-29

Unemployment Hits New Half-Century Low- Empty
PostSubject: Re: Unemployment Hits New Half-Century Low-   Unemployment Hits New Half-Century Low- EmptySat Feb 04, 2023 9:23 pm

The overall unemployment rate fell to 3.4 percent,
the lowest level since 1969.

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