The three-month and six-month figures are even more impressive with 1.1 million more people having jobs, compared to October, and about 2 million more people saying they are working since July’s results. Although, January’s unemployment rate is substantially high at 8.3 percent, the six-month job growth is the best since August 2005 when unemployment rate was at a healthy low of 4.9 percent. In the last six months, the unemployment rate has dropped from 9.1 percent to 8.3 percent.

 

Companies and workers are both breathing easy now as the increase in number of employed people could be indicative of stronger-than-expected economic growth round the corner. The chief economist of Moody’s analytics says that a better indication of the economic growth can been had through a 'Household Survey'.