Unemployment Rate Essentially Flat at 7.9% for January

The Department of Labor released its employment situation report [link opens in PDF] for January today, and things are looking good but not great. Total nonfarm payroll employment increased by 157,000, 10% less than analysts had expected. The unemployment rate rose 0.1 percentage point to reach 7.9% for January.

Source: Labor Department 

While government jobs decreased by 9,000 from December to January, payroll increases in retail (+33,000), construction (+28,000), professional and business services (+25,000), and leisure and hospitality (+23,000) helped boost the private sector employment situation.

In a statement released today, Acting Secretary of Labor Seth Harris writes: "Our recovery from the Great Recession continues at a steady pace as we build on previous gains in job creation. ... Over the last three months, we've added an average of 208,000 private sector jobs, and that is a real testament to the resilience of our economy." 

This latest report comes one day after the Labor Department reported an 11.5% increase in initial jobless claims for the week ending Jan. 26.

link


Read/Post Comments (1) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On February 01, 2013, at 11:11 PM, sspec wrote:

    Does anyone know where the 9000 decrease in govt. jobs came from. Was it the military?

Add your comment.

DocumentId: 2231363, ~/Articles/ArticleHandler.aspx, 7/24/2014 7:01:10 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 17,083.80 -2.83 -0.02%
S&P 500 1,987.98 0.97 0.05%
NASD 4,472.11 -1.59 -0.04%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes


Advertisement