President Obama’s Economy Continues To Surge As 257,000 Jobs Added In January

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On Friday, the Bureau of Labor Statistics released January’s jobs report and, as has been the case for some time now, the news was good. The economy added 257,000 jobs during the month. This exceeded general expectations that job growth would be around 230,000. Also, the strong numbers for both November and December were revised upward, with November now showing 423,000 jobs added and December coming in at 329,000. The unemployment rate showed little change as it sits at 5.7%.

Beyond steady job growth, there was plenty of other good news to glean from the report. One of the reasons the unemployment rate didn’t drop and actually raised a tad bit is due to the labor participation rate. Typically, conservative critics tend to dismiss the unemployment rate and jobs report from the BLS because they feel the numbers are skewed due to the number of people who have given up on working and dropped out of the labor force. (Much of the decrease in the labor participation rate over recent years is due to baby boomers retiring.) In January, the labor participation rate ticked up to 62.9%, leading to a slight bump up in the unemployment rate despite the number of jobs added.

Also, wages showed a decent increase in the month, as the average wage jumped up 12 cents an hour to $24.75. For the year, wages have increased by 2.2%, which is the level the Federal Reserve wants to see sustained before they decide to increase interest rates. In December, average wages had actually decreased by 5 cents an hour, so it is definitely nice to see the increase in January and the overall trend that wages are increasing, even if still not as quickly as most working- and middle-class workers would like.

Of course, not everyone welcomed this solid jobs report with open arms. As is typically the case, Fox News had to immediately put a negative spin on it. The image below from Fox & Friends Friday morning says it all.

fox and friends jobs

Yep, the hosts on Fox’s poutrage morning show felt that the the real headline should be that the unemployment rate went up. No mention about the average job growth of 336,000 jobs over the past three months. Let’s not point out that wages are increasing. God forbid discussing the sustained private job growth we’ve seen under President Obama. Instead, let’s just have Steve Doocy end the segment by claiming that the real news is that the “unemployment rate ticks up to 5.7.”

8 Replies to “President Obama’s Economy Continues To Surge As 257,000 Jobs Added In January”

  1. Yes, as I have been telling people this morning, considering the number of jobs created (specially with the revision for November and December) the fact that the unemployment rate ticked up is actually good news. It means that many people who had decided to drop out of the labor market are trying to get back into it. It means these people are feeling more optimistic about the future.

    And the increase in wages, although not drastic, is also good news. For years, actual real earnings have been going down. This increase means two things: employers are starting to increase wages and secondly, more of the newer jobs are better paying jobs.

  2. The GOP has lost all sense of morality. When a political party can only succeed and be happy when we the people suffer, you really need to step back and re-evaluate yourself. This is great news! It could be better if the gutless Boehner brought the jobs bill up for a vote.

  3. For the tea bag/repubs who will scream about the # of those not employeed:
    The vast majority don’t want a job, and for good reason. For instance, the 92.6 million figures include 36 million Americans of retirement age — 65 and older — 17 million of whom were 75 and older. It also includes 11 million teenagers — age 16 to 19 — many of whom aren’t looking for jobs. It includes 6.8 million 20- to 24-year-olds, some of whom are in college. Those not in the labor force would also include millions of stay-at-home parents, early retirees and anyone else who didn’t need or want to work. BLS’ breakdown of those not in the labor force shows that only 6.6 percent of them or 6 million people want a job. They are about evenly divided among those who haven’t looked for employment in the past year, and those who have searched for work in the past year but not in the past four weeks. The rest of those not in the labor force more than 86 million people are in a category BLS calls “…

  4. The vast majority don’t want a job, and for good reason. For instance, the 92.6 million figures include 36 million Americans of retirement age — 65 and older — 17 million of whom were 75 and older. It also includes 11 million teenagers — age 16 to 19 — many of whom aren’t looking for jobs. It includes 6.8 million 20- to 24-year-olds, some of whom are in college. Those not in the labor force would also include millions of stay-at-home parents, early retirees and anyone else who didn’t need or want to work. BLS’ breakdown of those not in the labor force shows that only 6.6 percent of them — or 6 million people — want a job. They are about evenly divided among those who haven’t looked for employment in the past year, and those who have searched for work in the past year but not in the past four weeks. The rest of those not in the labor force — more than 86 million people — are in a category BLS calls “do not want a job now.”

  5. Why would any Bagger and Republican allow facts to get in the way of a good whining against liberals, Democrats, and progressives? They’ve never been interested in facts. They’d otherwise vote Democratic Party.

    No. These unAmerican, unpatriotic, apathetic people are only interested in airing their ugliness. You should know that by now, Andy.

  6. I would not call 257 thousand jobs a surge when they count part time workers at minimum wage in the numbers. We should be adding at least 300 thousand jobs. many people have just given up looking for jobs. the black unemployment numbers are much higher than for whites. The government is hiding the true state of our economy. look at interest rates. The real reason they are at near zero percent is if they are raised we couldn’t pay the interest on the 18 trillion dollar debt. The only reason the stock market is booming is because there is no where else to put ones money. Everything will come crashing down in about five years.

  7. We would have more jobs if you idiot baggers would take your head out of kochs ass and invest in your country. What was that slogan? Country first unless you racist have to give credit to a blackman who saved your sorry asses

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