January Jobs Report: Hiring Ramps Up, Unemployment Falls

February 3, 2012

in News

January Jobs Report: Hiring Ramps Up, Unemployment Falls

American employers substantially stepped up their hiring in January, bringing the unemployment rate down for the fifth month in a row. Employers added 243,000 jobs in January, the Labor Department reported, marking a pick-up in hiring from December, when the economy added 203,000 jobs. Meanwhile, the unemployment rate fell to 8.3%. That is the lowest since February 2009. Job growth was much stronger than expected. Economists surveyed by CNNMoney had forecast 130,000 jobs added in the month, and that the unemployment rate likely ticked up to 8.6%. “This is an optimistic jobs report, especially in light of very poor jobs reports for almost three years,” said Brian Hamilton, CEO of Sageworks, a financial information company. The encouraging news was coupled with revisions to the Labor Department’s data, showing the economy added 180,000 more jobs than originally thought in 2011. [Read this article]

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