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Job growth slows as unemployment falls

Deirdre Hughes
Hot Stock Minute

For the second month in a row the U.S. economy saw subpar job creation in January with 113,000 new jobs created, 70,000 below forecasts, putting to rest some beliefs that December's lackluster numbers were a fluke. The jobless rate fell to 6.6 percent versus forecasts of 6.7 percent. U.S. markets look to be reacting positively to the news. Investors will be interested to see how the Fed reacts to this news and if further tapering is in store or halted. Sectors that saw job growth were in construction, manufacturing and mining.