Unemployment Rate Drops To 9.7 Percent

It's an encouraging sign...The national unemployment rate dropped slightly.The unexpected change comes as lawmakers work to pass legislation they believe will create jobs.Fox news correspondent Craig Boswell reports from Washington.The unemployment rate fell unexpectedly to 9-point-7 percent in january-- that's down from 10-percent and is the lowest level since august.During a speech at a small business in maryland, president obama called it moderate progress.Obama says: "these numbers, while positive, are a cause for hope but not celebration."The president proposed using 30-billion-dollars remaining from the bank bailout funds to spark lending to small businesses and urged congress to quickly pass a jobs bill.Obama says: "if there are additional ideas from either party, i'm happy to consider them as well."Senate democrats vow to pass a jobs bill by next friday but republicans oppose using unspent tarp funds for community banks and say the money should instead be used for tax relief.Others call the jobs proposal a disguised second stimulus package.Mcgurn says: "they're not gonna call this stimulus spending anymore because people don't like it. They're gonna call it a jobs bill. They may break it up so it's not a big blob of money. But we kinda have the same old policies."While many consider today's numbers encouraging, the labor department says more people lost their jobs since the recession began than previously believed-- and almost 15-million people remain unemployed.Chao says: "and for small business employers in particular, who create about two thirds of the net new jobs in the country, they are very concerned about the cost of new hires."Boswell says: (on cam fox news tag) "the senate plans to begin work on a jobs measure monday but it remains unclear if the weekend snow storm will change the schedule.In washington craig boswell fox news."



 


Watch Forecast
Mankato57°Waseca57°
Jackson50°Algona61°

 

 


 

 

 

FoxShop.com - Shop Now

CBS Store.com - Shop now!

studio12cbs

 

United Communications Corporation © 2010