Friday, February 03, 2012

January Employment Report: 243,000 Jobs, 8.3% Unemployment Rate

by Bill McBride on 2/03/2012 08:30:00 AM

From the BLS:

Total nonfarm payroll employment rose by 243,000 in January, and the unemployment rate decreased to 8.3 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread in the private sector, with large employment gains in professional and business services, leisure and hospitality, and manufacturing. Government employment changed little over the month. ... Private-sector employment grew by 257,000 ...

The change in total nonfarm payroll employment for November was revised from +100,000 to +157,000, and the change for December was revised from +200,000 to +203,000.

[and on benchmark revision] The total nonfarm employment level for March 2011 was revised upward by 165,000.
This was the first positive benchmark revision since 2006. There were several revisions, and I'll have graphs soon, but this was solidly above expectations.

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