U.S. Unemployment Rate Drops to 8.3%, 243,000 Jobs Added in January
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U.S. Unemployment Rate Drops to 8.3%, 243,000 Jobs Added in January

Washington : DC : USA | Feb 03, 2012 at 6:02 AM PST
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Chrysler Adds 1800 Jobs At Illinois Plant

The U.S. Department of Labor released its monthly jobs report data this morning that showed a better than expected growth in jobs added to the economy. Growth in the manufacturing sector was particularly impressive according to early analyses of the data released at 8:30 AM EST, fueling greater optimism in an improving economy. This news is bound to make the Obama administration smile, and the Republicans frown.

Stock markets were inching up in advance of the reports release, but are likely to be sparked by a much better than expected jobs situation. Yesterday’s release of a reduction in weekly unemployment claims filed and a four-week average that was also down, bolster investor optimism.

This report will be updated after further analysis of the employment data that was submitted to the DOL. As always, many companies and business organizations submit data that arrives late to the DOL, so there is always an adjustment to reported figures.

Sources and resources: U.S. Dept. of Labor, MSNBC, Fox News

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Philly Fed
The DOL's January Jobs Report showed job growth that was much better than expected in Jauary 2012 (+56%).
James A. Hamilton is based in Somerset, New Jersey, United States of America, and is an Anchor for Allvoices.
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READ MORE: unemployment rate, Jobs, Department of Labor President Obama, democrats, Republicans, Economy, stock markets, employment, Manufacturing
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Post a Comment Comments: 14
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Posted By accesskollywood accesskollywood | over 1 year ago
Good for america and its president Obama.....
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Posted By jimiham James A. Hamilton | over 1 year ago
Thanks for reading and commenting. It's a positive sign for sure.
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Posted By DavaCastillo Dava Castillo | over 1 year ago
Thanks for the report jimiham.

This is encouraging news. California unfortunately has one of the highest unemployment rates at about 12% now I think. I don't know if this new estimate changes anything in my state.
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Reply By jimiham James A. Hamilton | over 1 year ago
Thanks, Dava. NJ's not as bad, but the recession started later here with all the Big Oharma in state, and now lags behind slightly behind in recovery. I still look it as "smiling" news, the administration's not grinning yet by a long shot, neither should we.
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Posted By Larry-Crehore Larry-Crehore | over 1 year ago
You know the Republicans are going mad trying to figure out a way to discredit this information. We should be happy about this news no matter what party we belong to.
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Reply By jimiham James A. Hamilton | over 1 year ago
Thank yo. I agree with you, but they've already started; commentators, too. Since it appears to be not confined to a few business sectors, there's reason for cautious optimism that ought to lead to cooperation for the sake of our people--I won't hold my breath, though.
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Posted By northsunm32 northsunm32 | over 1 year ago
This is positive news but it should be balanced against the fact that one would need to know if part of the decrease is due to discouraged job seekers. The Canadian job situation is going in the opposite direction for some reason. Perhaps it is a slow down in demand for raw materials.
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Reply By jimiham James A. Hamilton | over 1 year ago
There probably won't be answers about the discouraged, but there was early speculation already, including wondering whether some discouraged were starting home or small businesses because wage growth is still slight in available jobs; speculating that might be a hidden part of the better-than-expected news, but unable to confirm it. Excellent point, though.
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Posted By Adebanjos Adebanjos | over 1 year ago
Well written – rated up.
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Reply By jimiham James A. Hamilton | over 1 year ago
Thank you for reading and commenting.
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Posted By mhatter99 Martin Kloess | over 1 year ago
well written - thank you
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Reply By jimiham James A. Hamilton | over 1 year ago
And thank you for commenting.
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Posted By dhreff dhreff | over 1 year ago
jimiham, these very good "Obama handsome points". Rate you up.
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Reply By jimiham James A. Hamilton | over 1 year ago
They are for the moment, but importantly they're good for common, working people, whether or not they have jobs at the moment.
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