CHICAGO — JANUARY’S UNEMPLOYMENT RATE dropped to 8.3%, according to the U.S. Department of Labor, the lowest since February 2009.
“The economy added 257,000 private-sector jobs last month, exceeding expectations,” says Secretary of Labor Hilda L. Solis. “These numbers show that the labor market continues on a positive trajectory.
In response to the positive numbers, the Dow Jones jumped the day after the announcement while the Nasdaq index reached a level that hasn’t been seen since December 2000.
THE FEDERAL RESERVE DISTRICTS reported modest growth for December, indicating ongoing improvement in the country’s economy. Consumer spending increased in most of the 12 districts, showing strong holiday sales compared to that of 2010, and activity expanded in the travel and tourist sector as well.