Nation's Jobless Rate Falls To 8.3%
The nation gained 243,000 jobs in January, largely in the private sector, and the unemployment rate continued its downward trends, falling to 8.3 percent, the government announced.
The U.S. Bureau of Labor Statistics said the job growth in the private sector was widespread, with large gains in professional and business services, leisure and hospitality, and manufacturing. It said government employment changed little last month.
The unemployment rate has now fallen 1.5 percentage points over the last 12 months. Meanwhile, the number of people who lost jobs or completed temporary jobs fell to 7.3 million in January. But the number of long-term unemployed - those jobless for at least 27 weeks - changed little at 5.5 million and account for nearly 43 percent of all unemployed people.
In a blog post on the White House website, Jon Krueger, chairman of President Obama's Council of Economic Advisers, said the report "provides further evidence that the economy is continuing to heal from the worst economic downturn since the Great Depression."
In a statement on his website, U.S. House Speaker John Boehner, R-Ohio, also welcomed the news, but added: "Our unemployment rate is still far too high. Our economy still isn't creating jobs the way it should be."
The manufacturing industry added 50,000 jobs, nearly all in the durable goods sector. There was also job growth in fabricated metal products, machinery and motor vehicles and parts. In the last year, the unemployment rate in the industry fell from 9.9 percent to 8.4 percent.
The construction industry, meanwhile, gained 21,000 jobs following a gain of 31,000 in December. The jobless rate in that industry has fallen from 22.5 percent in January 2011 to 17.7 percent.
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