Friday, February 04, 2011

Economy Adds Only 36k Jobs

The US economy added less jobs than expected but the unemployment rate dropped to only 9.0 percent.
Friday’s jobs report offered a conflicting picture of the nation’s hiring landscape. Unemployment fell because the Labor Department's household survey determined that more than a half-million people without jobs found work. The department conducts a separate survey of businesses, which showed tepid job creation. The two surveys sometimes diverge.
Analysts said severe winter weather likely reduced the number of jobs created in January. Harsh snowstorms last month cut into weather-prone industries like construction, which saw employment fall by 32,000, the most since May. Transportation and warehousing also fell by 38,000 — the most in a year.


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