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January jobs report numbers very disappointing
It was one of the most highly anticipated US jobs reports in months, and the numbers were very disappointing.
The economy created just 113,000 jobs in January which is worse than economists' expectations.
Amid the bad news, there is some good news.
If you're hunting for a job, it's not getting any easier.
For the second month in a row, the U-S economy created far fewer jobs than expected.
Just 113,000 in January. Well below last year's monthly average of 194,000 jobs.
Now have two months in a row of very disappointing job numbers. So the big question is, is this an anomaly namely related to bad weather, the extreme cold, the polar vortex, could that be freezing the job market for a couple months in a row or is this a real slowdown.
The question has economists and investors perplexed.
The greatest hiring last month was in was in construction, manufacturing and professional services, like accountants, waste collectors and researchers.
The Labor Department says the nation's unemployment rate is now down to 6.6 %. Its lowest level since October 2008.
But economists say the lower unemployment rate can be deceiving. Many jobless Americans have stopped looking for work, and are no longer counted.
Meanwhile, more than 3.6 million Americans have been jobless for 26 weeks or more.
In Washington, the Senate failed again Thursday to extend long-term unemployment benefits, which expired late last year.
"We are not going to give up on the unemployed"
On Wall Street, the markets taking it all in stride after a turbulent week.