The American economy generated 227,000 new jobs in January, marking the biggest gain in four months. Because the workforce expanded as well, the unemployment rate rose a tick to 4.8 percent, the Bureau of Labor Statistics said this morning.
Retail trade added 46,000 jobs in January, the single-best gain
for any sector, which seems a bit odd, given it happened in the post-holiday shopping season. Clothing and clothing accessories added 18,000, electronics and
appliance stores added 8,000, and furniture and home-furnishings stores
added 6,000.
One downside: The change in total nonfarm payroll employment for November was revised down from 204,000 jobs to 164,000. Over the past three months, job gains have averaged 183,000 per month.
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