January’s jobless report comes to us today via the New York Times. Alright, drum roll please…and I’m being handed the envelope now…here it is! In the United States, employers added 157,000 jobs and the unemployment rate remained constant at 7.9 percent. There was also a discovery that there were 335,000 more jobs added in 2012 than previously thought.
Industries that have been hiring heavily in the last few months include: construction, retail, health care and wholesale trade. While we the economy is making steady positive progress, it has been an excruciatingly long recovery after the bursting of the housing/banking/everything bubble. According to the Times, “Economists are forecasting job growth of around 170,000 a month for the rest of 2013, comparable to what employers have been adding over the last year.”
While stability is heartening after a dire situation, a lack of upward velocity where the economy is concerned can have an unfortunate effect on any chance of faster economic growth. Simply, a watched pot never boils. To get the full report on January’s Employment Report, click on the link below.