Hardware Retailing The Industry's Source for Insights and Information
During the month of January, the U.S. added 257,000 jobs to its labor force, while the unemployment rate increased slightly, the U.S. Department of Labor reports.
As the job market has improved, it’s important to note that people who have been unemployed for awhile are now rejoining the job search, which likely contributed to the unemployment rate increase from 5.6 to 5.7 percent, according to an article by the Huffington Post.
As the overall economy has improved, 3.2 million more Americans are earning paychecks than 12 months ago, the Huffington Post article says.
Employment in retail rose by 46,000 in January, the Department of Labor report states. In addition, the construction sector added jobs in January, with 39,000 positions boosting employment for both residential and nonresidential building. “Over the prior 12 months, construction has added an average of 28,000 jobs per month,” the report says.
To read the report summary from the U.S. Department of Labor, click here.
To read the Huffington Post article, click here.
