Job Growth Numbers for January 2010
There were 20,000 jobs lost in January and unemployment fell to 9.7%. Despite the positive report, there are several factors that add to the uncertainty surrounding these numbers. An increase in temporary hiring, such as the hiring of 9,000 temporary workers for the Census 2010, as well as the Labor Department's annual benchmark revision to the survey, showing 600,000 more jobs lost in 2009 than originally reported, signal that January's job report may not be consistent with the underlying jobs trend. Still, one year after the stimulus was signed in to law, over three million jobs have been lost and over one million people have stopped looking for work. President Obama falls 5.2 million jobs short of number of jobs he said the stimulus would create, thus adding reason for caution as talks begin in Washington for a second stimulus and "jobs" bill.
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