February 12th, 2014 10:54 PM by Todd Perdew
Strengthening employment is key to broader economic
growth, including a continued rebound in the housing market.
Although nonfarm employment finished 2013 on a weak note,
annual employment gains were slow, with the economy adding
2.19 million nonfarm jobs last year, just about matching
2012’s result, and slightly up from 2011. Despite
those gains, the economy has almost 1.2 million fewer jobs
than when the recession began at the end of 2007.
The U.S. added 113,000 jobs in January and the unemployment
rate fell to another post-recession low, but the pace of
hiring appears to have slowed over the past few months,
according to new government figures.
The second straight disappointing employment report
suggests that unusually cold and snowy weather in the past
two months is not the chief cause of a slowdown in job
creation. In December, the economy added just 75,000 jobs, a
The nation’s unemployment rate, meanwhile, dropped to
6.6% from 6.7% in December.
The labor force participation rate edged up to
63.0% after retouching a 35-year low of 62.8% in December.
The participation rate reflects the percentage of people who
hold a job or are looking for one. A surprisingly sharp
decline in participation over the past few years is largely
responsible for the falling unemployment rate.
The private sector once again generated all the
employment growth, adding 142,000 jobs in January.
That’s up sharply from 89,000 in December but well
below the norm over the past year. . Economists polled had
forecast an increase of 190,000 jobs.
With all this below average reports the 10 year Bond is down
only 2 bases points to 2.67%