I’m Running Out of Ways to Say “This Is a Disappointing Jobs Report”
So I guess that I will just have to say that this is a disappointing jobs report:
The new year started off with an old story: Employment grew again in January but not at a pace able to lower the jobless rate.
Nonfarm payrolls rose 157,000 for the first month of 2013 while the unemployment rate edged higher to 7.9 percent, news unlikely to alter the Federal Reserve’s monetary policy or instill confidence that the recovery is gaining steam.
Economists were looking for 160,000 net new jobs created with the unemployment rate holding steady at 7.8 percent.
The ho-hum jobs numbers for January were accompanied by substantial revisions higher for previous months, according to the report from the Bureau of Labor Statistics.
I guess about the only thing we can hope for is that there will be yet another upward revision of the numbers, though given the economic contraction of the last quarter, we might not have it.
Say, anyone remember how we were told during the election season that things were getting better?