Jobless Rate Stands at 6.6 Percent For January
Matt | On 07, Feb 2014
The unemployment figures for January were released on Friday morning. The economy is idling along in a sense — not really doing gangbusters or failing miserably.
January’s unemployment rate stands at 6.6 percent for January with the market adding 113,000 new jobs. The projected jobs number fell short of the 181,000 that analysts were hoping for.
Here’s a closer look at what we can learn from the January figures:
- The unemployment rate fell from 6.7 percent in December to 6.6 percent in January.
- Unemployment figures for adult men were at 6.2 percent and 5.9 percent for adult women.
- Whites stood at 5.7 percent, while blacks and Hispanics were at 12.1 percent and 8.4 percent, respectively.
- Asians held the lowest unemployment figures of ethnic groups at 4.8 percent.
- There at 3.6 million long-term unemployed people, which is down by 232,000. They make up 35.8 percent of the total unemployed.
The sky isn’t really falling around these numbers, though some media outlet may make you believe that. The economy does need to pick up more steam faster in order to make a real impact on the unemployment figures. We are still looking for a “full-steam recovery” to really get people back to work like they need.