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January Unemployment Rate Drops to 9.7 Percent
By: devona walker
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Fri, 02/05/2010 - 07:56
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The Washington Post reports that the unemployment rate showed a surprisingly steep decline in January even as the nation continued to shed jobs, the government said Friday, in a report that suggested the labor market picture remains mixed.
The two sets of numbers are based on different studies, with job gain and loss numbers coming from a survey of employers and the unemployment based on a survey of American households. In the long run, the numbers track together, but in the short run they can diverge. That's what happened in January, suggesting a murky picture for the labor market.
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