01 February 2013 14:05 [Source: ICIS news]
WASHINGTON (ICIS)--The ?xml:namespace>
January’s incremental increase in the unemployment rate marked the second consecutive monthly gain. December saw the unemployment rate edge up to 7.8% from the 7.7% measure in November.
In its monthly employment report, the department said that the job gains in January were chiefly in retail trade, construction, health care and wholesale trade.
The 157,000 jobs increase is about what most economists had been expecting.
Despite the advance in hiring, the unemployment rate edged up, apparently because more unemployed people have resumed looking for work. Workers who have given up looking for a job are not counted in the unemployment total, which now stands at 12.3m.
While the employment gain is welcome, the pace of new job creation is still weak.
To make any significant headway in reducing the unemployment rate, economists say the
For 2012 overall, the department said that the economy added an average 181,000 jobs each month.
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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