New Jobs Added in January; Slow Climb Ahead

Slow and steady wins the race whether we like it or not

Jobs grew slowly at the beginning of the year, according to recent numbers released by the Labor Department.

January’s jobs numbers show a steady, incremental pace as the country works to rebound. Employers added 157,000 new jobs to the workforce, this is down from December when employers added 196,000 new jobs.

Unemployment remained steady at 7.9 percent, and 12.3 million people were counted as unemployed. Construction saw the most growth, as 12,000 jobs were added reflecting a stronger housing market and recovery efforts from the Hurricane Sandy maelstrom.

The retail sector added 33,000 jobs, healthcare added 23,000 jobs and 4,000 manufacturing jobs were added.

Analysts anticipated the economy would climb over the years. In the near economic collapse of 2008, more than 8.8 million jobs were lost. The country is still down 3.2 million jobs.

“I think it’s going to be a tough slog here,” said Joshua Shapiro, chief United States economist for MFR Inc. in a report in the New York Times. “There are plenty of headwinds out there for the economy. The cost of hiring somebody is great, with benefit costs and everything, and unless companies really absolutely need someone, they’re not going to hire.”

For more on the latest jobs numbers, head to the New York Times.

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