U.S. jobless rate falls to 8.3 percent, a 3-year low, By Motoko Rich, February 3, 2012, New York Times: “The United States economy gained momentum in January, as employers added 243,000 jobs, the second straight month of better-than-expected gains. And in a separate measure, the unemployment rate fell to 8.3 percent, giving a cause for optimism as the economy shapes up as the central issue in the presidential election. Measured by both the unemployment rate and the number of jobless – which fell to 12.8 million – it was the strongest signal yet that an economic recovery was spreading to the jobs market. The last time the figures were as good was February 2009, President Obama’s first full month in office…”
Unemployment rate hinges on more than job gains or losses, Associated Press, February 3, 2012, Washington Post: “For most people, the 8.3 percent unemployment rate is the most visible sign of the economy’s health. The rate’s every movement is closely watched, especially in an election year. But when the rate declines, it’s not always because many more people were hired. The unemployment rate can rise or fall even when no jobs are created or lost. Last month, the rate fell because jobs were added. But that hasn’t always been the case in the 2½ years since the Great Recession ended. One reason for the rate’s decline is that fewer people are looking for work…”