Jan unemployment Rate Drops inexpectedly To 9.7 %

The Jan unemployment rate dropped unexpectedly in 9.7 percent, while employers shed 20,000 jobs, according to a report that offered hope the economy will add jobs soon.The job losses are calculated from a separate survey of employers.

The unemployment rate dropped from 10 percent because a survey of households found the number of employed Americans 541,000 it is said on Friday.That's the most jobs lost in any recession, as a percent of total employment, since World War II.

The figure for November was revised higher, however, to show a gain of 64,000 jobs.The budget plan Obama released this week projects unemployment will still be very high on 9.8 percent.