Pasadena, CA -- (SBWIRE) -- 01/11/2011 -- The December 2010 jobs report published by the Bureau of Labor Statistics (BLS) has failed to find any enthusiastic takers in the media. This is in spite of the fact that the unemployment rate fell to 9.4 percent.

The unemployment rate till November 2010 was 9.8 percent, but fell to 9.4 percent in December. This was the lowest level in 19 months. 113,000 nonfarm private sector jobs were created in December, while 10,000 government jobs were cut.

But as soon as the labor report was released, most media outlets said that this means a lot of people have stopped looking for work. When people are unemployed for over 99 weeks, they are not counted as unemployed. BLS also counts discouraged workers, which as of December stand, was the status of 1.3 million Americans. 14.5 million Americans are still unemployed according to the BLS.

President Obama has welcomed the dip in joblessness but has said that more investment from businesses is needed to create more jobs. Federal Reserve Chairman Ben Bernanke has said that even though the economy is experiencing a self-sustaining recovery. But he added that it is not growing fast enough to bring down the high unemployment rate.

Hound CEO A. Harrison Barnes says that he too believes that the economy is rebounding and more high-paying jobs are opening up across the economy. Hound is a job search engine which collects job postings directly from employer websites. In the last seven days, it has been able to gather 105,000 jobs.