Friday, February 07, 2014

U.S. Adds 113,000 Jobs, in Latest Worrying Sign on Growth

Appears that an increasing number of Americans are excaping dreaded “job lock.”

WASHINGTON—The labor market in January registered weak gains for the second straight month, a slowdown that could heighten fears about the economic recovery and may lead some to call on the Federal Reserve to reconsider its easy-money strategy.

U.S. payrolls increased by a seasonally adjusted 113,000 in January, the Labor Department said Friday. Job growth improved compared with December's gain, which was revised up by just 1,000 to 75,000, but was well below last year's average pace. The November increase was recast up by 33,000 to 274,000.

The unemployment rate, obtained through a separate survey, fell to 6.6% last month from 6.7% in December, the Labor Department said.

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