For the second straight month, the Bureau of Labor Statistics “Employment Situation” report showed a slowdown in U.S. job creation. In December only 75,000 jobs were added, followed by January’s increase of 113,000 — both significantly lower than the 2013 average monthly gain of 194,000.
The fact is that December was the weakest month for job creation since August 2012. Employers hired fewer employees than any other month since last June, and layoffs reached a four-month high of 109,000 — which broke a three-month streak of progress. When you see this information and pair it with the tepid job creation numbers, it’s understandable why many believe that economic recovery has truly lost momentum.
But is there a silver lining in these “not-so-great” numbers? Is there something that we can feel positive about? Certainly there is.
First, the Bureau of Labor Statistics ”The Employment Situation – January 2013” report revealed that 638,000 more people said that they had work last month over December. This helped to lower the national unemployment rate to 6.6 percent, making it 1.3 percent less than what it was a year ago, and the lowest it has been in more than five years.
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