US adds 157K jobs- Unempl rate up 7.9%-Matches population growth-Mfg added 4k jobs-Fast Food continues to be job producer
US gains 157K jobs; jobless rate rises to 7.9 pct.
U.S. employers added 157,000 jobs in January, and hiring was stronger at the end of last year than previously thought, providing reassurance that the job market held steady even as economic growth sputtered.
The Labor Department report Friday showed a jump in hiring just when the economy faced the threat of deep spending cuts and tax increases from the fiscal cliff. Job gains in November were revised to 247,000 from 161,000 and in December to 196,000 from 151,000.
The mostly upbeat report included one negative sign: The unemployment rate rose to 7.9 percent from 7.8 percent in December.
The rate is calculated from a survey of households, and more people in that survey said they were unemployed. The job gains are derived from a separate survey of employers.
Retailers added 33,000 positions in January and health care gained 23,000 jobs. Manufacturers posted a small increase of 4,000. Restaurants and hotels added 17,000.