Unemployment Rate Shows Sharp Drop
DETROIT (WWJ) The unemployment rate is sinking at the fastest pace in half a century because a surprisingly large number of people say they're finding work.
The unemployment rate dropped sharply last month to nine percent, based on a government survey that found that more than a half-million people found work.
No surprise to Erin O'Connor, who is president of HiredMyWay.com "All of these private companies that we are working with that are posting jobs on our site....have posted close to 600-700 jobs in the last two weeks," O'Connor stated.
A separate Labor Department survey of company payrolls showed 36,000 net jobs created, barely a quarter of the number needed to keep pace with population growth. Many analysts are puzzled by the differences between the two surveys, so they're waiting for next month's numbers.
