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 ...
12-15% would be closer to the rate, but I wouldn't be surprised if it were over 20%.
I question the retail workers #’s. This is post Christmas and retailers are heading into choppy waters, lead by Walmart s announced closures.
B.S.! They are not counting all of those that have just given up - not looking for work, not collecting unemployment.
The next POTUS will have to deal with the REAL numbers.
Then it will be SHTF time.
I stopped to tie my shoe! Otherwise...
“Donât worry, the term âMcJobsâ and âpart timeâ will be back in the media lexicon soon after a Republican is president.”
Big Media will suddenly start to care about labor force participation rate, healthcare costs, the National debt, and US military deaths.
In the meantime, Hussein Heads everywhere will be ecstatic that their god reduced unemployment so much more.
If this is an “encouraging” report, why is the market down 200+?
That number doesn’t even keep up with the number of new possible workers coming into the economy.
News about and statistics from the USA government are mimicking the USSR during the cold war days.
I'm here in Oklahoma where folks are already starting to hurt.
You betcha. Congress should simplify things by passing this law: The unemployment rate in the United States shall be 4.9%.
No need for all those economists, and all those studies. Just always report unemployment as 4.9%.
“US added just 151k jobs in January; unemployment at 4.9%”
...unemployment SAID TO BE at 4.9%
Journalists, instead of saying that “Obama said...”, should be saying that “Obama claims...”.
The new president’s transition team should get out in front of that rate jump by getting corrected numbers and releasing them BEFORE they take over the white house.
Shot the media with it before they shot you.
What an utter lie.
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