US unemployment rate dips to 8.9 percent, lowest in nearly two yearsMarch 5th, 2011 - 4:05 pm ICT by ANI
New York, Mar 5(ANI): The U.S. unemployment rate unexpectedly dropped to a nearly two-year low of 8.9 percent in February, according to the latest report from to the U.S. Department of Labor.
The report stated that 192,000 jobs were created last month. The total number of unemployed Americans stands at 13.7 million.
The unemployment rate had been at 9.1 percent in February, and was last below nine percent in April 2009.
The “underemployment rate”- the number of people who have stopped looking for jobs or who work part-time and would like full-time work - dropped to 15.9 percent, also a near-two-year low.
“We know there’s still more work to be done for the millions of people who are either out of work or struggling to offset their rising costs with shrinking paychecks,” the New York Daily News quoted Labor Secretary Hilda Solis, as saying in a statement. (ANI)
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