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Unemployment rises in January

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The U.S. unemployment rate increased to 7.9 percent in January from 7.8 percent in December 2012 as U.S. employers added 157,000 jobs, according to The Washington Post. Analysts had predicted 155,000 jobs would be added in January. The number of jobs added in December 2012 was revised to 196,000.

The January job gains mainly were fueled by hiring in the retail, construction and health care sectors. The retail sector added 33,000 jobs; construction sector added 28,000 jobs; and health care sector added 23,000 jobs.

Additionally, the wholesale trade sector added 15,000 jobs, and the mining sector added 6,000 jobs. The transportation and warehousing sector cut 14,000 jobs, and the manufacturing, professional and business services, leisure and hospitality, financial services and government sectors basically were unchanged.

Revisions showed that the job market added an average of 180,000 jobs per month during 2012 and 2011, which is up from previous estimates of 150,000. There currently are 12.3 million unemployed people in the U.S.


2/4/2013

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