Home > Economy > U.S. Unemployment Rate Goes Down, Economy Opens 151,000 Jobs In January

U.S. Unemployment Rate Goes Down, Economy Opens 151,000 Jobs In January

By February 6, 2016 at 9:37 pm
U.S. Unemployment Rate Goes Down, Economy Opens 151,000 Jobs In January (Photo : Spencer Platt | Getty Images News)

WASHINGTON, D.C. - Undoubtedly, the global economic crisis has affected some of the most powerful countries. Despite the circumstances, the United States of America remains to have the most stable economy in the world as its unemployment rate went down by 4.9 percent, the Bureau of Labor Statistics reported on Friday.

One of the reasons behind the decline of the country's unemployment rate, which is the lowest in 8 years, is opening 151,000 jobs in January, helping more people to have working opportunities.

Apparently, the number of additional jobs is lower than in December when the country opened 262,000 opportunities.

"Job gains occurred in several industries, led by retail trade, food services and drinking places, health care, and manufacturing," the Bureau of Labor Statistics stated in its economic news release.

However, it revealed that job losses happened within the sectors of "private educational services, transportation and warehousing, and mining."

In the report of BBC News, the U.S. economic growth posted last week a slow pace of annual rate by 0.7 percent in the last quarter of 2015. But the previous quarter showed 2 percent.

The Wall Street Trading revealed that investors have been worried about the slowdown in job creation, which could signify the weakening of the U.S. economy. But there were some analysts who focused more on the positive side of the unemployment rate, saying "that weaker job numbers meant another rise in interest rates was unlikely for now."

"I'm a little surprised the markets reacted somewhat negatively to it," said Sean Lynch, an analyst of Wells Fargo Investment Institute. "It is actually a pretty good number that should be welcomed by the equity markets..."

But if there's anyone who should be happier about the new figures, it should be President Barack Obama who acknowledged the decline of unemployment rate was a victory during his term, USA Today reports.

"The United States of America right now has the strongest, most durable economy in the world," he said as he delivered his speech in New Hampshire. "I guess you cannot please everybody."

Like Us on Facebook