January Jobs: BLS Reports Just 113,000 Jobs Created in First Month of 2014

The unemployment rate dropped to 6.6 percent

January Jobs Report: 113,000 Jobs Added, Unemployment at 6.6% (Mediaite)

The Bureau of Labor Statistics released its January jobs report Friday morning, which showed an increase of 113,000 jobs for the month, plus upward revisions of 33,000 jobs for November and 1,000 jobs for December, for a total revision of 34,000 additional jobs. The unemployment rate ticked down a tenth of a point, to 6.6%. The labor force participation rate ticked up to 63% in January.

From BLS:

Total nonfarm payroll employment rose by 113,000 in January, and the unemployment rate was little changed at 6.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in construction, manufacturing, wholesale trade, and mining.

…The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) fell by 514,000 to 7.3 million in January. These individuals were working part time because their hours had been cut back or because they were unable to find full-time work.

…The change in total nonfarm payroll employment for November was revised from +241,000 to +274,000, and the change for December was revised from +74,000 to +75,000. With these revisions, employment gains in November and December were 34,000 higher than previously reported.

…In January, federal government employment decreased by 12,000; the U.S. Postal Service accounted for most of this decline (-9,000).

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