U.S. Economy grows at a slower pace in January than expected, unemployment rate falls
By KEN BODETTERThe unemployment rate fell to a four-month low of 4.3% in January, the Commerce Department said on Wednesday.
Economists polled by Reuters had forecast a rate of 4%.
The rate is the lowest since January 2009.
The number of people in the labor force declined by 170,000 in January to 7.9 million.
That’s the largest drop since January 2010.
The labor force participation rate, which measures people who are actively looking for work, increased to 63.6%, the highest since October 2016.
The participation rate was 63.5% in February.