200,000 Jobs Added in January

Total nonfarm payroll employment grew 200,000 in January, an increase from last month’s reading of 160,000, according to the Bureau of Labor Statistics. The national unemployment rate remained at 4.1%, maintaining the lowest level since December 2000.

Private service-providing industries gained 139,000 jobs, led by health care and social assistance services, which added 25,800.

Goods-producing employment rose by 57,000 jobs during the month, as gains in manufacturing led by adding 15,000 jobs in January.

The civilian labor force participation rate was unchanged at 62.7% for the fourth consecutive month. Workers unemployed for less than 14 weeks decreased by 6,000, while the number of long-term unemployed, those jobless for 27 weeks or more, fell by 94,000 and accounted for 21.3% of the unemployed. The number of discouraged workers was 451,000, a 23,000 decrease from a month earlier.

Average hourly earnings rose by 9 cents for a second consecutive month, settling at $26.74. Over the past year, average hourly earnings have risen by 75 cents, or 2.9%. This was the strongest year-over-year gain since June 2009.

Read the BLS release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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