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On February 1st, the BLS released yet another report with jobs added as nonfarm payroll employment rose by 157,000 in January with a relatively untouched unemployment rate of 7.9%, the seventh consecutive month in which more than 100,000 jobs have been added to the national economy.
According to the report, 166,000 private sector jobs were generated last month, as a majority of private sectors hired new employees.
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There is no doubt about it: a trend has been established. As was the case throughout 2012, unemployment once again diminished within a majority of the United States’ metropolitan areas in December.
According to the BLS’ latest “Metropolitan Area Employment and Unemployment” report, published on January 30th, 290 of the nation’s 372 metro areas recorded a lower jobless rate in December 2012 than in December 2011, while 68 areas’ unemployment rates rose during that time span.
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For the 35th consecutive month, private sector employment upturned within the United States in January, according to the BLS’ most recent jobs report.
The report found that 166,000 private sector jobs were added to the national economy, as the total number of employed Americans rose to 143.3 million.
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Two days prior to the release of the BLS’ “The Employment Situation – January 2013” report, the Bureau of Economic Analysis published its latest “advance” estimate regarding Q4 2012 GDP.
The estimate’s findings shocked many financial experts. Despite a rise in personal consumption expenditures and business investment, real GDP declined by 0.1 percent last quarter, the first quarterly decrease since 2009, leading some economists to ask: why?
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Consistent. Robust. Encouraging.
Such words have often been used to describe the United States’ recent job growth trends. After all, from July to November, 161,800 jobs were added to the national economy per month, on average.
Even Superstorm Sandy did not damper the nation’s steady rise in employment, as 161,000 new jobs were generated in November, just days after the storm struck the northeastern United States.
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On January 8th, the BLS released its first “Metropolitan Area Employment and Unemployment” report of 2013, revealing that regional unemployment continued to decline last November.
According to the BLS, 322 of the nation’s 372 metro areas reported a lower jobless rate in November 2012 than November 2011, as only four areas recorded an unemployment rate of 15 percent or higher. Two of these areas, Yuma, Ariz., and El Centro, Calif., once again reported the nation’s highest jobless rates, at 27.5 and 26.6 percent, respectively.
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