Aleteia logoAleteia logo
Aleteia
Tuesday 09 March |
Saint of the Day: St. Frances of Rome
home iconLifestyle
line break icon

US unemployment falls to lowest rate since December 2008

© Pavel L Photo and Video / Shutterstock.com

Aleteia - published on 03/08/13

Though some point out thousands have stopped looking for work

With 236,000 jobs gained in the US in February, and 130,000 people leaving the work force, the unemployment rate fell to 7.7%. The New York Times has the story:

Bolstered by a healthier private sector, the United States economy gained 236,000 jobs in February, well above what had been expected, while the unemployment rate fell to 7.7 percent, its lowest level since December 2008.

The gains were broad-based, the Labor Department said Friday, with sectors ranging from manufacturing to business services turning in healthy results. Construction was especially strong, adding 48,000 jobs, a sign that the recovery in the housing market is beginning to translate into new jobs.
Public-sector employment continued to shrink, however, as the number of government employees nationwide fell by 10,000.
While many economists were encouraged by the report, some noted that the size of the labor force contracted by 130,000. Some of that was because of retirements, but some was also a result of discouraged workers giving up the search for jobs.
As a result, the labor participation rate sank to 63.5 percent, a low for the current economic cycle.

Read more

Tags:
EconomyWork
Support Aleteia!

If you’re reading this article, it’s thanks to the generosity of people like you, who have made Aleteia possible.

Here are some numbers:

  • 20 million users around the world read Aleteia.org every month
  • Aleteia is published every day in seven languages: English, French, Italian, Spanish, Portuguese, Polish, and Slovenian
  • Each month, readers view more than 50 million pages
  • Nearly 4 million people follow Aleteia on social media
  • Each month, we publish 2,450 articles and around 40 videos
  • We have 60 full time staff and approximately 400 collaborators (writers, translators, photographers, etc.)

As you can imagine, these numbers represent a lot of work. We need you.

Support Aleteia with as little as $1. It only takes a minute. Thank you!

Daily prayer
And today we celebrate...




Top 10
1
DOMINATIONS
Philip Kosloski
10 Mysterious things to know about guardian angels
2
tabernacle
Philip Kosloski
5 Important things to notice in a Catholic church
3
Philip Kosloski
10 Things you should know about St. Joseph
4
MIRACLE SUN
Philip Kosloski
7 Breathtaking miracles that can restore your faith in God
5
Kathleen N. Hattrup
Pope calls us to Abraham’s hope: Full text of address in Ur
6
Ziggurat of Ur
John Burger
Pope’s trip to Iraq is like a pilgrimage to a Holy Land
7
VaticanNews.va
Pope in Iraq: Schedule and key events
See More
Newsletter
Get Aleteia delivered to your inbox. Subscribe here.