The Bureau of Labor Statistics announced on Friday, February 1, that the national unemployment rate inched to 7.9 percent, up slightly from 7.8 percent in December. Total nonfarm payroll employment increased by 157,000 jobs in January, close to economists’ expectations. Job gains were made in retail trade, construction, health care and wholesale trade. 166,000 nonfarm jobs were added in the private sector, while 9,000 jobs were lost in the private sector. Federal government jobs declined by 5,000 and local government jobs declined by 6,000, while state governments added 2,000 jobs in January.

The report also revised upwards the change in total nonfarm payroll employment for November and December 2012 by a combined 127,000 jobs. The unemployment rate has been at or near 7.9 percent since September 2012. The number of long-term unemployed (those jobless for 27 weeks or more) was also nearly unchanged at 4.7 million in January.

Link: News Release