In this Jan. 25, 2012 photo, Daniela Silvero,left, an admissions officer at ASA College, discuss job opportunities with Patrick Rosarie, who is seeking a job in IT, during JobEXPO’s job fair, in New York. The unemployment rate fell for the fifth straight month after a surge of January hiring, a promising shift in the nation’s outlook for job growth. (AP Photo/Bebeto Matthews)CHRISTOPHER S. RUGABER, AP Economics Reporter
WASHINGTON (AP) – Employers went on a hiring spree in January and drove down the unemployment rate for a fifth straight month to 8.3 percent, its lowest point in nearly three years.
The economy created 243,000 net jobs, the most in nine months, and the unemployment rate fell two ticks.
Employers have added an average of 201,000 jobs per month in the past three months. That’s 50,000 more jobs per month than the economy averaged in each month last year.
The Labor Department’s January jobs report was filled with other encouraging data and revisions. Hiring was widespread across many high-paying industries. Pay increased. And the economy added 200,000 more jobs in 2011 than first thought.