This morning's jobs report showed the employment situation bouncing back a little bit in January, although not to any great extent. Following on the heels of December's disappointing 74,000 new jobs added, the economy added 113,000 more in January. The headline unemployment figure ticked down 0.1 percentage points to 6.6 percent.
To show how comparatively weak these numbers are, last November's figure was revised in this morning's report. It went from 241,000 jobs up to 275,000 in the latest reporting. December's figure was revised upward as well, but only by 1,000.
If there is any silver lining to this morning's report, it's that private sector payrolls were a bit stronger than the report might indicate. Private businesses added 142,000 jobs in January, while government at all levels was paring back by 29,000 jobs.
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