Employment Situation Report for January 2016

The Employment Situation Report for January 2016 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Predicted: +188,000
Actual: +151,000

Unemployment Rate
Predicted: 5.0%
Actual: 4.9%

Average Hourly Earnings (month-to-month change)
Predicted: +0.3%
Actual: +0.47%

Civilian Labor Force Participation Rate: 62.7%
Previous Month: 62.6%

Average Workweek
Predicted: 34.5 hrs
Actual: 34.6 hrs

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

From today's report:

"...The change in total nonfarm payroll employment for November was revised from +252,000 to +280,000, and the change for December was revised from +292,000 to +262,000. With these revisions, employment gains in November and December combined were 2,000 lower than previously reported. Over the past 3 months, job gains have averaged 231,000 per month...In January, average hourly earnings for all employees on private nonfarm payrolls increased by 12 cents to $25.39..."[Establishment Survey Data]

"...Both the number of unemployed persons, at 7.8 million, and the unemployment rate, at 4.9 percent, changed little in January. Over the past 12 months, the number of unemployed persons and the unemployment rate were down by 1.1 million and 0.8 percentage point, respectively..."[Household Survey Data]

Click here to view the full Department of Labor report

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