US Unemployment Falls to 8.3%

Friday’s Non-Farm Payroll indicates that 243,000 jobs were added in January marking the greatest single-month gain since last April. The influx helped lower the national unemployment rate to 8.3 percent from 8.5 percent the month before.

The U.S. economy grew at a 2.8 percent annual rate in the final three months of 2011, quickening from 1.8 percent in the third quarter. However, the rebuilding of stocks by businesses accounted for two-thirds of the rise, setting the economy up for a slower growth pace this quarter.

Source: Reuters

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