Weak US jobs data: Only 113,000 workers hired in January
A weak number from the US.
On a seasonally adjusted basis, 113,000 workers were hired in January.
Analysts expected to see 185,000 jobs added this month.
We saw some nasty numbers last month, with only 74,000 jobs added so there was a good possibility of a rebound. That number has been revised up – but only to 75,000.
Over the holidays weather has been wreaking havoc with all kiinds of economic data.
Note that 276k employed ppl weren't at work due to bad weather. Not that different from Dec, when everyone blamed bad #s on weather.
— Ben Casselman (@bencasselman) February 7, 2014
But still good news
The unemployment rate has fallen to 6.6 per cent, its lowest since October 2008.
And the ever crumbling participation rate has finally seen an increase.
Felines 1: Humans 0
Earlier we reported that cat analyst Geoffrey Boycat forecast 170,000 job additions in January.
That's closer than the humans.
Previously we've seen fellow feline economist Bob far wide of the mark.