Unemployment falls in January

The U.S. unemployment rate decreased to 6.6 percent in January from 6.7 percent in December 2013 as U.S. employers added 113,000 jobs, according to The Washington Post. Economists were expecting to add 185,000 jobs.

Although the unemployment rate fell to the lowest level since October 2008, hiring was weak in January; job gains have averaged 154,000 during the past three months, which is down from 201,000 during the preceding three months.

However, more people began looking for work in January, and some of those people found jobs.

In January, the construction sector added 48,000 jobs; professional and business services sector added 36,000 jobs; leisure and hospitality sector added 24,000 jobs; and manufacturing sector added 21,000 jobs.

The government sector lost 12,000 jobs, and the retail sector lost 13,000 jobs. The health care, transportation and warehousing, and financial activities sectors basically were unchanged.

There currently are 10.2 million unemployed people in the U.S.

Date : 2/10/2014