Utility unemployment rates falls to 3.4% in January 2011

The unemployment rate in utilities fell to 3.4% in January 2011, down from 4.2% the previous month, according to data release by the Bureau of Labor Statistics today.  The rate is also a significant improvement upon the previous to years when January 2010 and January 2009 recorded unemployment rates of 4.2% and 6.3%, respectively. 

Nationally, the utility sector is doing far better than the overall economy.  The U.S. unemployment rate fell from 9.4% in December to 9.0% in January, remaining well above the utility sector's 3.4% rate.  While the lower unemployment rate is welcoming news for the nation, the reduction is attributed to workers who quit looking for a job.  Only 36,000 new jobs were created in January, while 600,000 gave up looking.  When workers job out of the labor force, they are no longer counted as unemployed.