Unemployment Drops to 8.3% – 243,000 Jobs Added
Although it seems like the longest recession on record, the economy has been improving and over 2 million jobs have been added since the layoffs began.
January 2012 unemployment figures were just released and over 243,000 jobs were added and the unemployment number fell to 8.3% – this is the lowest recorded number in 3 years – Feb 2009. And the number of overall unemployed individuals fell to 12.8 million – also a 3 year low.
The gains in employment were in every industry: Construction added 21,000 workers, professional services added 70,000 jobs and manufacturing added 50,000 jobs.
Look for the automotive industry to continue to add workers as plants re-open or add more shifts. Consumers are beginning to trade in older cars for newer models.
We still have a long way to go to reach full employment and although the news today is positive it isn’t enough for many of the unemployed who have been out of work for over 6 months.