Unemployment Falls to 9 Percent in Latest Hopeful Sign; Canada Job Creation...

Unemployment Falls to 9 Percent in Latest Hopeful Sign; Canada Job Creation Also Surges

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business graphicThe unemployment rate is suddenly sinking at the fastest pace in a half-century, falling to 9 percent from 9.8 percent in just two months.

The steepest two-month decline in unemployment since the Eisenhower administration saw more than half a million people back to work in January.

The number of people who described themselves as self-employed rose by 165,000 to 9.7 million in January, the report said. (From the AP story in LA Times)

Meanwhile, Canada’s job creation in January was more than four times the number forecasted.

The news added to evidence the country’s economic recovery may be accelerating. Employment rose by 69,200 and the labor force increased by 106,400. (From Bloomberg News)

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