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Non-farm payroll: US unemployment rate drops

5 February 2010

The number of US citizens unemployed fell in January, according to the latest non-farm payroll statistics from the US Bureau of Labor Statistics.

Unemployment went down from 10.0 per cent in December to 9.7 per cent in January with the Non-farm payroll employment rate down by just -20,000.

Employment continued to fall in construction, transportation and warehousing, while the temporary worker and retail sectors added jobs.

In January the number of unemployed persons decreased to 14.8 million and the unemployed rate fell by 0.3 per cent to 9.7 per cent.

At the beginning of the recession in the US, the number of unemployed people was 7.7 million and the unemployment rate was 5 per cent.

Statistics from the Bureau show that the number of people employed part time for economic reasons was around 8.3 million, down from 9.2 million in January.  These individuals were working part time because their hours had been cut back or because they were unable to find a full time job.

Today’s data (5 February 2010) has been seasonally adjusted affecting the figures on hours and earnings, which the Bureau applies every year.

Further industry comment and share price information to follow……

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