Manufacturing & The Economy
Total nonfarm payroll employment increased by 157,000 in January, and the unemployment rate was essentially unchanged at 7.9%, the U.S. Bureau of Labor Statistics reported today. Retail trade, construction, health care and wholesale trade added jobs over the month. Manufacturing employment was essentially unchanged in January and has changed little, on net, since July 2012.
The change in total nonfarm payroll employment for November was revised from +161,000 to +247,000, and the change for December was revised from +155,000 to +196,000. Monthly revisions result from additional reports received from businesses since the last published estimates and the monthly recalculation of seasonal factors. The annual benchmark process also contributed to these revisions.