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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: TideGlider who wrote (99430)	2/4/2011 10:49:55 AM
From: tonto	2 Recommendations Read Replies (1) \| Respond to of 224729

Unemployment falls to 9% but job growth remains sluggish Only 36,000 jobs were added to the U.S. economy in January, the federal unemployment report says, apparently reflecting a reluctance to hire. Unemployment fell to 9%, in part because more people have given up on the job market. * Fed not ready to curb stimulus measures, Bernanke says Fed not ready to curb stimulus measures, Bernanke says * GDP shows moderate growth in fourth quarter GDP shows moderate growth in fourth quarter * Retail sales climb a healthy 4.2% in January Retail sales climb a healthy 4.2% in January By Don Lee, Los Angeles Times February 4, 2011, 6:33 a.m. Reporting from Washington — The U.S. economy added a paltry 36,000 jobs in January, the government said Friday. Bad weather likely contributed to the weaker-than-expected hiring, but the report also suggests that many employers remain reluctant to hire despite a strengthening economic recovery. Even so, the nation's unemployment rate fell dramatically for the second month in a row. It dropped to 9% in January, from 9.4% in December and 9.8% in November. But as in December, the official unemployment rate dropped in part because many more workers left the labor market -- an indication that many people aren't finding opportunities or don't believe there's a job for them in the current economy. Get the monthly that has L.A. talking. Subscribe to Los Angeles Times Magazine at a special introductory rate. "A chilling start to 2011," declared the Conference Board's chief economist, Bart van Ark. "The U.S. labor market remains unable to catch the recovery momentum of the broader economy." There were some positive signs in Friday's report from the Bureau of Labor Statistics. Manufacturing payrolls were up 49,000 over the month, and retail employers added 27,500 jobs. Construction, government, financial services, transportation and the temporary-help sector shed jobs in January. Government officials also revised higher the job growth at the end of last year. And that shows an improving trend in hiring, although still not at a very rapid pace. In the fourth quarter, the private sector added an average of 153,000 jobs a month, up from 124,000 in the third quarter.