The unemployment rate in the United States of Amercia is on the lowest level since 2009. In January 2012 it reached 8,3% while in December 2011 it was still on 8,5% and in August even on 9.1%. The economic signals from the past time are now also effecting the labor market of the USA.
American companies have created 257.000 new jobs in January what is quite an acceptable figure. Also the figures oft he past two months have been corrected which led to an average of 218.000 new jobs during the last three months. Due to the growth of the population it is necessary to create 100.000 new jobs every month for these people who are joining the Labor market. But the job growth is quite higher in the last three months.
Also the monetary policy makers oft he Federal Reserve (Fed) were surprised about these latest improvements. They expected these improvements towards the end of the year. Due to this slow recovery Ben Bernanke (Chief of the Federal Reserve) also decided to retain the interest rate on nearly zero.
A reason for the improvements on the labor market in January could be a warm climate on the East coast, whereas last years winter storms occured. But seasonal work and therefore the construction sector is not only responsible for these new figures. Above all, the industry made a good impression with a job growth of 50.000 workers.
However, there are still 12,8 million unemployed people in the United States. Moreover, 43% out of these persons are more than half a year without any job. It is expected that only in 2013 the unemployment rate will fall under 8%. The big „debt crisis“ in Europe and the financial crisis in the in the own country are substantial risks for the medium-term economic prospects in the United States.