What cause unemployment rate to drop in January

According to a CBS News Report unemployment rate for January drop to 9.7%. Eight reasons are listed below.

  1. A survey of households found the number of employed Americans rose by 541,000
  2. The figure for November was revised higher to show a gain of 64,000 jobs. That was initially reported as a gain of 4,000. 
  3. January’s job losses were the smallest since the recession began and are down from the huge loss of 779,000 jobs in January 2009. 
  4. The manufacturing sector added jobs for the first time since January 2007. Its gain of 11,000 jobs was the most since April 2006. 
  5. Retailers added 42,100 jobs, the most since November 2007, before the recession began. Temporary help services gained 52,000 jobs, its fourth month of gains
  6. The average work week increased to 33.3 hours, from 33.2. That indicates employers are increasing hours for their current workers, a step that usually precedes new hiring
  7. The number of part-time workers who want full-time work, but can’t find it, fell by almost 1 million. That lowered the “underemployment” rate, which also includes discouraged workers, to 16.5 percent from 17.3 percent
  8. The federal government has begun hiring workers to perform the 2010 census, which added 9,000 jobs

The economy is recovering, though slowly, which is to be expected.
Read more Here

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