Friday, February 1, 2013

Economy Added 157,000 Jobs In January, Unemployment To 7.9 Percent

According to the latest data from the Bureau of Labor Statistics, the economy added 157,000 jobs in January, with the unemployment rate ticking up slightly to 7.9 percent. Economists expected an increase of 170,000 jobs. The private sector added 166,000 jobs, while the public sector lost another 9,000 jobs.

BLS revised the number of jobs created in November up by 86,000 to 247,000, and December was revised up by 41,000 to 196,000. Due to revisions done to the 2012 numbers, 181,000 jobs per month were created last year, higher than previously thought.

The wider U-6 measure of underemployment held steady at 14.4 percent. 38.1 percent of the unemployed have been out of work for six months or more, a slight drop from December.

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