THE ECONOMY: Unemployment Down and Up

For the first time in seven months, unemployment dipped in January—or did it? The rate declined from a revised figure of 6.2% in December to 6% last month. But the actual number of jobless rose by 780,000, to 5,400,000, the highest since mid-1961. Unemployment usually increases in January, and seasonal adjustments brought last month's rate down.

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