U.S. Adds 157,000 Jobs; Unemployment Rate Unchanged at 7.9%
The Labor Department said U.S. employment increased by 157,000 in January, and the unemployment rate was essentially unchanged at 7.9%. Retail trade, construction, healthcare and wholesale trade added jobs over the month.
In January, employment in construction increased by 28,000. Nearly all of the job growth occurred in specialty trade contractors (+26,000), with the gain about equally split between residential and nonresidential specialty trade contractors. Since reaching a low in January 2011, construction employment has grown by 296,000, with one-third of the gain occurring in the last four months. However, the January 2013 level of construction employment remained about 2 million below its previous peak level in April 2006.
Manufacturing employment was essentially unchanged in January and has changed little, on net, since July 2012.
To read the full Labor Department news release click here.