Posted on 02/05/2016 8:18:58 AM PST by SeekAndFind
The U.S. economy added 151,000 jobs in January, a slowdown from recent months but still a sign of a solid job market. Employers raised pay, more people felt confident enough to look for work and the unemployment rate dipped to 4.9 percent, its lowest level since 2008.
Friday's report from the Labor Department showed that the job market remains a vital support for an economy that is struggling in areas such as manufacturing and is facing weakness overseas. It provides a key piece of evidence for the Federal Reserve, which is weighing whether to raise interest rates again after lifting them from record lows in December.
The January hiring gain, though modest, followed robust job growth of 280,000 in November and 262,000 in December. Last month, companies shed education, transportation and temporary workers but hired others in manufacturing, retail and food services.
Aside from the slowdown in overall hiring, economists were encouraged by most other aspects of the report.
"Positive job growth, the drop in the unemployment rate to 4.9 percent and the uptick in wages show the U.S. is heading in the right direction," said Beth Ann Bovino, U.S. chief economist at Standard & Poor's.
The January job growth comes at an uncertain time for the U.S. economy, which some analysts say is facing a growing risk of recession within the next year or two. Global financial pressures and a volatile stock market have curtailed growth. Still, American consumers have shown resilience.
The number of people working or searching for jobs rose last month, while the number of unemployed slipped from 7.9 million to 7.8 million, which caused the unemployment rate to dip from 5.0 percent.
(Excerpt) Read more at johnsoncitypress.com ...
Wow! Maybe we’ll be down to 0.0% unemployment before Obama’s term is up. If so he should run a 3rd term!
Soon Obama will add - to the unemployment rate like Golf
Of course nobody will point out that most of them are “McJobs.”
McJobs and Clinton shills.
Lairs!
And the market goes SO WHAT? It looks like all phases of the economy are tired of the obungo song and dance.
Don’t worry, the term ‘McJobs’ and “part time” will be back in the media lexicon soon after a Republican is president.
Wow! The fewer jobs created the less the unemployment rate! Who knew?
after a new republican president in sworn in, the UE rate will mysteriously rise and rise to at least triple
Post#8. Beat ya by 15 seconds. GMTA.
Rejoice, comrades!
How many people are no longer part of the official “workforce”? Last I checked, that number was at a record high.
They never mention the U-6 number... How odd....
When 0Muslim tacks on that $10 "fee" per barrel of oil, unemployment will go NEGATIVE.
Everyone will work 4 jobs, for the glory of The State!
If unemployment is at 4.9% then I’m worth 16 billion dollars.
But the lumber industry should pick up immensely as wooden crosses are manufactured en masse for burning on the lawns of blacks and slave labor camps are built for immigrants, women and children of color, homosexuals and trangender oppressees.
And that’s why it doesn’t feel like the UE rate is 4.9%. The economy is lackluster, even after a decade of near zero interest rates.
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