Saturday, January 8, 2011

Unemployment Drops to 9.4 Percent; December 2010 Numbers - AARP Bulletin

by: Carole Fleck | from: AARP Bulletin

U.S. employers added 103,000 jobs to their payrolls in December, helping push down the unemployment rate to 9.4 percent and feeding cautious hope for a better outlook for 2011, the government reported Friday.

The outlook for older workers also turned slightly rosier in December. For 55-plus job seekers, the rate dropped to 6.9 percent from November’s rate of 7.2 percent.

Though the number of jobs added to the economy was lower than what analysts predicted, the latest labor report indicates a stronger recovery, says Gus Faucher, director of macroeconomics at Moody's Analytics outside Philadelphia. "Everything is pointing in the right direction. The economy is adding jobs, businesses are hiring and businesses will boost their hiring through 2011," Faucher says.

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