BLS: US Added 130K Jobs in Jan; Jobless Rate at 4.3%


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. nonfarm employment rose by 130,000 in January, 
the Bureau of Labor Statistics (BLS) reported Wednesday (2/11). The 
unemployment rate changed little at 4.3%, reflecting a labor market that 
continues to expand at a moderate pace.

   The unemployment rate held at 4.3% in January, while the number of 
unemployed people was little changed at 7.4 million. Both measures are higher 
than a year earlier, when the jobless rate was 4% and the number of unemployed 
totaled 6.9 million.

   The January payrolls figure follows downward revisions to the prior two 
months. November's jobs growth was revised down to 41,000 from 56,000, while 
December was revised lower to 48,000 from 50,000. With these revisions, 
employment in November and December combined is 17,000 lower than previously 
reported.

   According to the BLS, the labor force participation rate was little changed 
at 62.5%, and the employment-population ratio held at 59.8% in January.

   In January, average hourly earnings for all employees on private nonfarm 
payrolls rose by 15cts, or 0.4%, to $37.17. Over the past 12 months, average 
hourly earnings increased by 3.7%, BLS said.

   Job gains were primarily seen in health care (82,000), social assistance 
(42,000), and construction (33,000). Within health care, ambulatory health care 
services added 50,000 jobs, hospitals gained 18,000, and nursing and 
residential care facilities added 13,000.

   Job losses were mainly in federal government (34,000) and financial 
activities (22,000). Within financial activities, insurance carriers and 
related activities lost 11,000 jobs over the month.




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