This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-12648347
The article has changed 5 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
US unemployment rate falls to 8.9% | US unemployment rate falls to 8.9% |
(40 minutes later) | |
The US unemployment rate fell slightly to 8.9% in February, down from 9% the month before. | The US unemployment rate fell slightly to 8.9% in February, down from 9% the month before. |
It is the third month in a row that the jobless rate has fallen, with February's figure marking a near two-year low. | It is the third month in a row that the jobless rate has fallen, with February's figure marking a near two-year low. |
Employers added 192,000 jobs last month, the US Labor Department said, above market expectations. | Employers added 192,000 jobs last month, the US Labor Department said, above market expectations. |
Paul O'Neill, former US Treasury Secretary, described the data as "very positive". | Paul O'Neill, former US Treasury Secretary, described the data as "very positive". |
A Labor Department statement said that most job gains were in manufacturing, construction, business services and transport. | A Labor Department statement said that most job gains were in manufacturing, construction, business services and transport. |
State and local government slashed 30,000 jobs, the most since November as budget cuts continue to bite. | State and local government slashed 30,000 jobs, the most since November as budget cuts continue to bite. |
The data showed that the jobless rate for adult men was 8.7%, for adult women 8%, and for teenagers 23.9%. | The data showed that the jobless rate for adult men was 8.7%, for adult women 8%, and for teenagers 23.9%. |
The unemployment rate has come down from 9.8% in November. | The unemployment rate has come down from 9.8% in November. |
"We have moved into the expansion phase of the economic cycle and the economy is self-sustaining," said Brian Levitt, an economist at Oppenheimer. | "We have moved into the expansion phase of the economic cycle and the economy is self-sustaining," said Brian Levitt, an economist at Oppenheimer. |
Data for December and January was also revised upwards to show 58,000 more jobs created than previously estimated. | |
The total number of unemployed people now stands at 13.7 million, still almost double pre-recession levels. | |
The Labor Department estimated that, when factoring in the number of part-time workers who would rather be working full time and those who have given up looking for work, the percentage of "underemployed" Americans dropped to 15.9% in February. | |
This is the lowest in nearly two years. | |
The improving jobless rate reflects growth in the economy. Recent retail and export data have been healthier. | |
Manufacturing is growing at its fastest pace in nearly seven years and the service sector is expanding at its fastest pace for more than five years. | |
Share trading on the US futures market rose in expectation that the data will be well received by investors when Wall Street opens. | Share trading on the US futures market rose in expectation that the data will be well received by investors when Wall Street opens. |