Another Abysmal Jobs Report … Only 113,000 jobs Created in January 2014 … Unemployment Rate Down to 6.7%
Obamacare, Obamanomics and Barack Obama’s disastrous redistribution policies continue to create uncertainty and poor jobs reports …
January’s Jobs report shows that a meager 113,000 jobs were created, falling far below forecasters’ predictions of 185,000 new jobs. How are jobs supposed to be created in an environment where Barack Obama and his minions cause uncertainty and pass so many regulations on business that it makes it impossible? According to how the administration talks about Obamacare, no one has to work anymore, they got their Obamacare and subsidies.
Our plan is working perfectly to transform America into a third world country
The U.S. economy added just 113,000 jobs in January, a small improvement over December’s disappointing report but not nearly enough to signal a much-needed rebound in the increasingly unpredictable U.S. labor market.
The number of jobs created fell well below forecasters’ predictions of 185,000 new jobs.
The headline unemployment rate was 6.6%, according to figures released by the U.S. Labor Department, down from 6.7% in the prior month.
From CNBC: Stocks Fall on poor jobs report.
U.S. stock-index futures turned higher, reversing course on losses that came in the immediate aftermath of the January jobs report, with fewer Americans finding work in January than estimated, but the unemployment rate fell.
“Mitigating some of these negatives is the unemployment rate ticked a bit lower and the labor participation rate ticked up. Both of those are good things,” said Chris Gaffney, senior market strategist at EverBank.
The government reported the creation of 113,000 jobs in January versus expectations of 185,000. The jobless rate fell to 6.6 percent versus an expectation of 6.7 percent.
Among the major worker groups, the unemployment rates for adult men (6.2 percent), adult
women (5.9 percent), teenagers (20.7 percent), whites (5.7 percent), blacks (12.1 percent),
and Hispanics (8.4 percent) showed little change in January. The jobless rate for Asians
was 4.8 percent (not seasonally adjusted), down by 1.7 percentage points over the year.
(See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks or more), at 3.6 million,
declined by 232,000 in January. These individuals accounted for 35.8 percent of the
unemployed. The number of long-term unemployed has declined by 1.1 million over the year.
(See table A-12.)
Check out what the REAL Unemployment rate looks like.