U.S. job growth picks up

The American economy has added jobs for 15 consecutive months and UI claims are dropping

Job growth is accelerating and the unemployment rate shrinking in the United States, according to the Wall Street Journal. The U.S. Labor Department monthly report on Friday indicated a rise of 200,000 nonfarm jobs: 212,000 new jobs added in private companies against a loss of 12,000 in the public sector. December’s unemployment rate was 8.5 per cent, its lowest level since November of 2009. While the news is positive, it does not yet indicate a full recovery from recession levels. Overall job gain in 2011 was 1.6 million jobs, for a total of 131.9 million nonfarm jobs. That total is 6.1 million fewer jobs than in January 2008, when the downturn began. There were 13.1 million Americans unemployed in December 2011.

Wall Street Journal

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