America’s unemployment rate falls

America’s unemployment rate fell by 0.4 percentage points to 9.4% in December, according to the latest set of data released by the US Bureau of Labor Statistics.

Employment rose in the leisure and hospitality area yet remained nearly unchanged in other major industries.

At the end of last year, there were 14.5m Americans unemployed. (article continues below)

The number of people who lost their jobs and completed temporary jobs dropped. The number of long-term unemployed and those who are employed part-time for economic reasons remained essentially unchanged.

Although today’s data suggests an improvement, experts warn America needs to accelerate or even double the rate at which it adds new jobs to maintain consumer spending.