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U.S. Jobless Rate Rises to 7.9%
Employers added 157,000 jobs in the U.S. in January, according to the Dept. of Labor.
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Employers added 157,000 jobs in the U.S. in January, according to the Dept. of Labor. But the unemployment rate, which is based on a separate survey, worsened to 7.9% from 7.8% in December.
Economists say the report was more positive than it appears at first glance. The Labor Dept. revised upward its employment estimates from November and December by a combined 127,000 jobs.
The department also hiked its full-year employment figures to an average of 180,000 new jobs added per month from the previously estimated 150,000 jobs.
America's construction industry hired 82,000 jobs last month. Economists say the housing rebound appears to be picking up, which is good news for the overall economy, consumer confidence and the sale of big pickup trucks.
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