US unemployment is at 4.7%

US unemployment level fell to 4.7% in January 2005 after staying at 5.0% for three years or so. Employment is rising but hours have been stuck at just under 33.8 a week, on average, for more than three years. And unemployment among blacks, which fell more last month than for any other group, was at 8.9%, more than double the 4.1% for white men and women.