U.S. Economy Adds 157,00 jobs in January; 2012 Revisions Are Higher


homThe United States economy added 157,00 jobs for the month of January and the unemployment rate nudged slightly higher to 7.9 percent, according to data released today by the Department of Labor.

Economists were forecasting that the U.S. economy added between 155,000-165,00 non-farm payroll jobs in January and the unemployment rate held steady at 7.8 percent.

The construction sector added 28,000 jobs. The health care sector added 23,000 jobs and retail 33,000 jobs.

The U.S. Dept. of Labor included revisions in 2012 that shows 247,00 jobs for November which is 86,000 higher than first reported. The December revision includes 196,000 jobs, which is 41,000 higher.

United States GDP

The U.S. economy shrank for the first time in more than three years in the fourth quarter. Gross domestic product fell at a 0.1 percent annual rate in the fourth quarter of 2012.

Still for 2012, the U.S. economy grew modestly to 2.2 percent, up from the 1.8 percent growth rate of 2011.






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