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January 10, 2011

Unemployment Rate Falls as More Drop Out of Labor Force 
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In economic news, the U.S. Department of Labor reports that the nation's
official unemployment rate fell to 9.4 percent in December. It is the
lowest rate since May 2009. But the Center for Economic Policy and
Research points out that the drop is largely due to a decrease in number
of people seeking to be employed. According to the Center, 260,000
adults dropped out of the labor force in December and are no longer
counted as unemployed by the government. Federal Reserve Chair Ben
Bernanke admitted last week that it could take four to five more years
for the job market to normalize fully.



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