Unemployment Rate Unexpectedly Dips to 9.7% in January

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(WASHINGTON, DC) - Today the U.S. Department of  Labor reported that the unemployment rate fell from 10.0 to 9.7 percent in January, and nonfarm payroll employment was essentially unchanged (-20,000).

Employment fell in construction and in transportation and warehousing; while temporary help services and retail trade added jobs.

In January, the number of unemployed persons decreased to 14.8 million, and the unemployment rate fell by 0.3 percentage point to 9.7 percent.

This was an unexpected dip in the unemployment rate as many analysts expected a slight increase in today's numbers, but many still worry that there are still clouds on the horizon that will impact future unemployment numbers.

Tonya Giddens, of Orlando-based Florida Home Team Realty stated, "Unemployment recovery is the single biggest key to fixing the U.S. housing market. If people don't have jobs, or are under-employed, they can't pay their mortgages, rents or be in the market for buying a new home."

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