Unemployment Down To 6.6%

While the number of jobs added in January was lower than expected, 113,000, unemployment is down to 6.6%, and more people are in the workforce looking for jobs, a good sign.

Employers added 113,000 jobs in January, well below the 185,000 economists expected. The unemployment rate, which is drawn from a different survey of households, was down slightly to 6.6% from 6.7% in December. The labor force participation rate ticked up to 63% from 62.8%. The employment-population ratio was up to 58.8% from 58.6% in the prior month.

Employment numbers were revised up just 1,000 for December bringing the headline number from plus 74,000 to plus 75,000. The November payroll number, however, was revised up more sharply from 241,000 to 274,000, total employment gains those months were therefore 34,000 greater than previously reported. In 2013 an average of 194,000 jobs were added each month, above 2012′s 183,000 average monthly gains.

By: Alan

Alan Colmes is the publisher of Liberaland.