U.S. Gained 157,000 Jobs in January

What's Hot


How to Cut the Cable TV Cord in 2017Family

8 Major Freebies and Discounts You Get With Amazon PrimeSave

8 Creative Ways to Clear ClutterAround The House

Study: People Who Curse Are More HonestFamily

This Free Software Brings Old Laptops Back to LifeMore

Pay $2 and Get Unlimited Wendy’s Frosty Treats in 2017Family

Protecting Trump Will Cost Taxpayers $35 MillionFamily

The 3 Golden Rules of Lending to Friends and FamilyBorrow

6 Reasons Why Savers Are Sexier Than SpendersCredit & Debt

Resolutions 2017: Save More Money Using 5 Simple TricksCredit & Debt

Porta-Potties for Presidential Inauguration Cause a StinkFamily

Tax Hacks 2017: Don’t Miss These 16 Often-Overlooked Tax BreaksTaxes

5 New Year’s Resolutions That Will Pay Off 10 Years From NowCollege

Revised estimates also show hiring has been better than we thought over the past two years.

Friday’s monthly jobs report from the U.S. Bureau of Labor Statistics had mostly good news, even though the unemployment inched back up to 7.9 percent from 7.8 percent.

One of the major positive points was revisions to earlier data. Last year’s employment growth averaged an increase of 181,000 jobs per month, rather than the 150,000 or so previously thought. The only months revised downward were last July and August – about 27,000 jobs each – which were still over 150,000. Almost every other month was revised upward by a similar or larger margin.

Another positive: The last quarter of 2012 was particularly good, averaging over 200,000 jobs per month. (Although some of that was undoubtedly temporary work for meeting holiday demand.)

A third piece of good news is that construction is one of the major gainers recently, adding over 100,000 jobs in the past four months. That suggests continued improvement for the housing market and the overall economy. The Associated Press reports faster consumer spending (especially on cars and homes) and business investment in equipment and software is also moving things forward.

The bad news is mostly old, but sadly persistent. The employment situation survey breaks down unemployment statistics by group, and the data show unemployment continues to be higher than average among teenagers (23.4 percent), blacks (13.8 percent), and Hispanics (9.7 percent). Adult men and women have a roughly equal rate of (un)employment.

The number of long-term unemployed – out of work half a year or more – was 4.7 million, which is more than 38 percent of the total number of unemployed people.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: Trump Scraps FHA Rate Cut — What Does It Mean for You?

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,797 more deals!