National unemployment rate drops to 8.3 percent | Arkansas Blog

National unemployment rate drops to 8.3 percent

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I think one of my morning readers has it right:

News that a jump in jobs sent the unemployment rate from 8.5 to 8.3 percent in January will be credited by Republican candidates to the national expectation that Mitt Romney will win the November election. It's the hope, see, that something will at last be done about the economy President Obama destroyed.

CNN says:

U.S. employers stepped up their hiring in January, bringing the unemployment rate down for the fifth month in a row.

Employers added 243,000 jobs in January, the Labor Department reported Friday, marking a pick-up in hiring from December, when the economy added 203,000 jobs. Meanwhile, the unemployment rate fell to 8.3% from 8.5%.

The report was stronger than most economists had expected. But the job market still has a long way to go to fully recover from the financial crisis. The economy still needs to add about 6 million jobs to get back to 2008 employment levels.

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