Angel in the details

7 February 2014 By Martin Hutchinson

While the January establishment survey showed only 113,000 new jobs, the household survey showed 616,000 jobs created net of end-year adjustments, the labor force rose and the unemployment rate fell to 6.6 pct. The economic recovery is still strengthening, if in slow motion.

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The U.S. economy added 113,000 jobs in December, according to the Bureau of Labor Statistics’ establishment survey on Feb. 7 – considerably fewer than the 180,000 expected by economists. However the household survey showed the unemployment rate falling by 0.1 percentage point to 6.6 percent.

In addition, the household survey showed 638,000 new jobs being created, or 616,000 net of year-end corrections by the Census Bureau, while the labor force participation rate ticked back up from 62.8 percent to 63 percent.

Previous months’ data for job creation were revised upward by 34,000 employment gains.

Government shed 29,000 jobs in January, so the private sector added 142,000 jobs. Construction added 48,000 jobs after a decline in December, manufacturing added 21,000 jobs, wholesale trade added 14,000 jobs, professional and business services added 36,000 jobs and leisure and hospitality added 24,000 jobs. Retail trade lost 13,000 jobs.

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Previous months’ data for job creation were revised upward by 34,000 employment gains.

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