Unemployment rate tumbles to 9.7%, but don’t start the party yet. One month doesn’t make a trend.

 THE EMPLOYMENT SITUATION — JANUARY 2010–U.S. Department of Labor

The unemployment rate fell from 10.0 to 9.7 percent in January, and nonfarm
payroll employment was essentially unchanged (-20,000), the U.S. Bureau of
Labor Statistics reported today. Employment fell in construction and in
transportation and warehousing, while temporary help services and retail
trade added jobs.

Household Survey Data

In January, the number of unemployed persons decreased to 14.8 million,
and the unemployment rate fell by 0.3 percentage point to 9.7 percent.
(See table A-1.)

In January, unemployment rates for most major worker groups–adult men
(10.0 percent), teenagers (26.4 percent), blacks (16.5 percent), and
Hispanics (12.6 percent)–showed little change. The jobless rate for adult
women fell to 7.9 percent, and the rate for whites declined to 8.7 percent.
The jobless rate for Asians was 8.4 percent, not seasonally adjusted.
(See tables A-1, A-2, and A-3.)