Economic Indicators Send Mixed Signals: Few Jobs Added, But Unemployment Drops

You might think the number of jobs added to the economy and the nation's unemployment rate would be fairly in sync with each other -- not so in January.

The U.S. economy added 36,000 jobs last month, far fewer than the 136,000 economists had predicted, and another indication the economy is still failing to produce the necessary growth to get back on its feet. Epic snowstorms are taking much of the blame, since construction- and transportation-related industries in much of the country were directly affected.

Still, the unemployment rate fell to 9 percent, compared to December's 9.4 percent. January's unemployment marks the lowest level in nearly two years. Unemployment, however, is calculated by people who are actively looking for work and can't find it, which means those who've simply given up for now aren't factored in.

Also, 9 percent may be an improvement over the last couple of months, but it is still high.

Florida Congressman Tom Rooney used today's figures to point out the failures in the Obama administration's policies.

Two years after the stimulus passed, unemployment remains near double digits, a monthly reminder of the broken promise that the spending spree would somehow keep unemployment below 8 percent," Rooney said."In fact, the failed stimulus policies and record deficits over the last two years are putting a stranglehold on our economic recovery."

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