Feb 10 | Bruce Steinberg
The unemployment rate continue to decline in January to 6.6 percent, which was "sort of" a 0.1 percent decrease from December that the official U.S. Bureau of Labor Statistics announcement characterized as "little changed." The reason we say "sort of" is because the population estimates were updated so earlier data are not strictly comparable to earlier periods. It was 7.9 percent one year ago.
Private sector job growth was 142,000, which was below most analysts' expectations as well as other private sector estimates. But total nonfarm job growth was only 113,000 when factoring in a 29,000 drop in government jobs (see more detail below).
This report also incorporates the BLS's annual revisions to the jobs data, which showed that about 500,000 more jobs were created in 2013 than previous reported.
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