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February 4, 2006
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Saturday
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Muharram 5, 1427
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US jobless rate falls to 4.7 per cent
WASHINGTON, Feb 3: The US jobless rate reached a five-year low of 4.7 per cent in January, as 193,000 jobs were added to non-farm payrolls, the Labour Department announced on Friday.
The January payroll figures fell short of expectations of a gain of 248,000, but with upward revisions to November and December of 81,000, the total payroll count was a bit more than expected.
The increase in employment was due to benchmark revision of the household survey at the beginning of the year. Total employment was about 300,000 higher than in December, while unemployment was about 300,000 lower at seven million.
The report also shows a stronger labour market.
Payrolls in the goods-producing sectors increased by 58,000, including 46,000 in construction and 7,000 in manufacturing — the third increase in factory jobs in the past four months.
Payrolls in the services sector rose by 135,000 in January.
The education and health care industries added 39,000 jobs; leisure and hospitality industries added 26,000. Retail jobs fell by 1,500.—AFP
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