Jobless Rate Falls to 8.9 Percent

Good news in the United States job market - for the first time in two years the unemployment rate in the U.S. has fallen below 9 per cent. Employers in the U.S. have hired 192,000 more workersno9n farm workers) as of February, and the U.S. unemployment rate has finally gone down to 8.9 percent.  Actually, according to the Labor Department, the unemployment rate fell for the third straight month in a row.

The unemployment rate in January was at 9.0 percent in January. Economists forecast the unemployment rate to rise to 9.1 percent. Job growth in December and January was revised higher by 58,000 jobs. Average hourly earnings held steady at $22.87. Earnings are up 1.7 percent in the past year.