In the News: Unemployment Rate Dips for the Third Consecutive Month

The U.S. unemployment rate drops to 8.9% in February

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The U.S. job market is showing signs of a comeback. The nation’s unemployment rate slipped slightly to 8.9%—the lowest rate since April 2009—last month, according to the latest Labor Department report, with employers adding 192,000 jobs to the economy.

Although African-Americans still have the nation’s highest unemployment rate, it dipped to 15.3%, deterring the projected 25 year unemployment high for the demographic.

The report released today shows the country is experiencing growth in several areas, from construction and health care to professional and business services. The largest industry gains were seen in the manufacturing field—increasing by 33,000 last month. On the other hand, state and local governments cut 377,000 jobs since its peak in September 2008.

 

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