Jobs report: Slow economic recovery continues
The unemployment rate has changed little since October.
That represents an uptick from December, when the rate was 5.6 percent. But overall, the rate has shown “no net change” since October, according to the U.S. Labor Department's Bureau of Labor Statistics. Retailers were still hiring -- 46,000 positions filled in January. And the construction industry added 39,000 jobs.
Employment also increased in residential building, up 13,000 jobs, and nonresidential building, up 7,000 jobs. The health care and financial industries added jobs as well, the report said.
While the country is no longer in the throes of financial upheaval, the economic recovery continues to be a marathon slog:
- Wages increased, but still at a relatively slow rate. Average hourly earnings rose by 12 cents to $24.75, following a decrease of 5 cents in December. During the past year average hourly earnings have risen by 2.2 percent. The average hourly earnings of private-sector production and nonsupervisory employees increased by 7 cents to $20.80.
- The number of unemployed persons, 9 million, was little changed in January. Distressingly, the number of the long-term unemployed was also unchanged at 2.8 million. That number includes people jobless for 27 weeks or more. The labor department points out, however, that during the past year the number of long-term unemployed dropped by 828,000.
- The jobless rates for specific groups, such as adult men (5.3 percent), adult women (5.1 percent), whites (4.9 percent), blacks (10.3 percent), Asians (4 percent) and Hispanics (6.7 percent) showed little or no change, according to the bureau.
- Another number stuck in ice involves people who were employed part time for economic reasons (sometimes referred to as involuntary part-time workers). This includes about 6.8 million Americans who wanted full-time employment, but were working part time because their hours had been cut or because they were unable to find a full-time job.
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