Today, the Bureau of Labor Statistics (BLS) reported that the US economy added 157,000 jobs in January. Despite this increase in new jobs, the unemployment rate notched up to 7.9%. In addition to initial data for January, employment numbers for November and December were also adjusted, up 127,000 from the initial reports.
In January, it was noted that employment grew in retail, construction, healthcare, wholesale trade, and mining. The retail trade sector saw 33,000 jobs added last month, the most of any industry sector. Construction saw 28,000 added in January, with 26,000 of those jobs being specialty contracting. Healthcare grewby 23,000 jobs, wholesale by 15,000 and mining increased by 6,000 in January. Transportation and warehousing was the only sector that was noted to see a decline, down by 14,000 jobs in January. All other sectors, including manufacturing, business and professional services, financial activities, and the government saw little or no change.
Along with these preliminary numbers for January, the BLS issued final job gains for November, revising from +161,000 to +247,000 (up 86,000). December numbers were also revised, adding another 41,000 jobs from +155,000 to +196,000.