Jobless Rate Falls Despite Low Job Growth Friday, February 7, 11:42 AM ET
This morning, the Labor Department released the January payroll report showing that only 113,000 new were created. Economists were expecting to see 185,000 jobs created, but unusually cold weather slowed hiring across many sectors. In the report, the Labor Department raised its December estimate to 75,000 -- which amounts to a 1,000 job increase over the initial report. The bright spot from the report was that more people entered the workforce in January and the jobless rate decreased to 6.6%. Initially, the markets fell following the report, but have since reversed course and are heading higher today.
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