Saturday, February 6, 2016

Employers Added 151,000 jobs In January, Unemployment Rate Drops To 4.9% (VIDEO)

According to the Bureau of Labor and Statistics U.S. job growth remained steady in January adding 151,000 new jobs with the unemployment rate dropping to an eight year low!

With this report the private sector will be celebrating an unprecedented 71 straight months of job growth.

Before we get to the report let's have a look at a much deserved victory lap from our Commander in Chief!

President Obama breaks down the numbers and quiets the haters!

As for the jobs report this is how it breaks down...

  • Total nonfarm payroll employment rose by 151,000 in January, and the unemployment rate drops to 4.9 percent. 

  • Job gains occurred in several industries, led by retail trade, food services, health care, and manufacturing. Employment declined in private educational services, transportation and warehousing, and mining.

  • Over the past 12 months, the number of unemployed persons and the unemployment rate were down by 1.1 million and 0.8 percentage point

  • The number of persons employed part time for economic reasons was down by 796,000 over the year. 

  • Private educational services, transportation and warehousing lost jobs as mining employment continued to decline

  • In January, average hourly earnings for all employees on private nonfarm payrolls increased by 12 cents to $25.39. 

  • Over the year, average hourly earnings have risen by 2.5 percent. In January, average hourly earnings of private-sector production and nonsupervisory employees rose by 6 cents to $21.33

  • Despite stock markets getting off to a miserable start in 2016 consumers’ confidence rose in January to the highest level since October, indicating that Americans are so far brushing off gyrations in the financial markets. 

  • As an added bonus the change in total nonfarm payroll employment for November was revised from +252,000 to +280,000

  • Over the past 3 months, job gains have averaged 231,000 per month!!

  • Another hopeful Sign for US Economy is that job hunting for Americans in their prime working years (ages 25 through 54) are ticking up

It's a far cry from the bleak economic hellscape the Republicans have painted isn't it?

If I'm a Democrat running running to be President I am mass mailing these job repots out to voters and running President Obama's press conference on a loop at my campaign stops!

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