The unemployment rate dropped unexpectedly in January to 9.7
percent, while employers shed 20,000 jobs, according to a report that
offered hope the economy will add jobs soon.

The unemployment rate dropped from 10 percent because a survey of
households found the number of employed Americans rose by 541,000, the
Labor Department said Friday. The job losses are calculated from a
separate survey of employers.

The department also revised its past employment estimates to show
that job losses from the Great Recession have been much worse than
previously stated. The economy has shed 8.4 million jobs since the
downturn began in December 2007, up from a previous figure of 7.2
million.

That’s the most jobs lost in any recession, as a percent of total employment, since World War II.

The figure for November was revised higher, however, to show a gain
of 64,000 jobs. That was initially reported as a gain of 4,000.

Source/Full Story: FOXNews.com

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