January Job Gains in U.S. Probably Reached 250,000

[shugah]

January Job Gains in U.S. Probably Reached 250,000

Feb. 3 (Bloomberg) -- American employers added workers in January as the U.S. economy strengthened and builders took advantage of unseasonably warm weather to start projects, economists said ahead of a government report today.

Employers added 250,000 workers to their payrolls last month, more than double the 108,000 in December and the most for any January since 1998, according to the median forecast of 76 economists surveyed by Bloomberg News. The unemployment rate may have held at 4.9 percent, matching a four-year low.

Improving job prospects are lifting consumers' spirits and will help propel spending and growth in coming months, economists said. Retail employment jumped as Americans spent their holiday gift certificates and factory employment rose for a fourth straight month, the first time that's happened in almost eight years, according to the forecasts.

``The labor market remains solid and economic growth will remain firm into the new year,'' said Michael Englund, chief economist at Action Economics in Boulder, Colorado.

The Labor Department is scheduled to release its report at 8:30 a.m. in Washington. Forecasts for payroll growth ranged from 175,000 jobs to 350,000. Estimates for the unemployment rate ranged from 4.8 percent to 5 percent.

http://quote.bloomberg.com/apps/news?pid=10000103&sid=agGNBeCfY8to&refer=news_index

[hatrack]

1. Oops! Off by 57,000 jobs!

I love the headline - "Probably".

:evilgrin:

[EST]

2. B U L L S H I T !

[shugah]

3. i know

who believes anything that comes from this administration? "economy is great! everyone is spending! jobs all over the place!"

it boggles, truly it boggles...