Unexpected! Jobs Numbers Way Below Estimates

Posted by on Feb 07, 2014 at 8:37 am

Blame it on the weather, of course.

  Job growth saw another weak month in January, with employers adding another 113,000 positions as frigid weather and a deluge of storms dampened hiring.

Economists expected 185,000 new positions were created in January, from an initially reported 74,000 in December, with the unemployment rate holding steady at 6.7 percent.

Markets reacted negatively, with stock market futures reversing earlier gains.

The Bureau of Labor Statistics also reported Friday that the unemployment rate fell to 6.6 percent, a function of a continued decline in the labor force as the participation rate remains mired around 36-year lows.

Look at the upside: So many tens of thousands of people are still liberated from working.

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