Jobless Rate Lowest in Almost 3 Years

The nation’s jobless rate dropped to 8.3 percent in January—the lowest level in nearly three years, the Labor Department said Friday. Unemployment dropped from 8.5 percent in the prior month as employers created jobs at the fastest pace in nine months, added 243,000 in January, MSNBC reported. “Employers are stepping up new hires that had been postponed due to the uncertainty posed by recession fears in Europe,” Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd., told Bloomberg before the report.

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