Last month, 157 jobs were created in the United States, slightly below expectations (160). However, the figure is lower than the previous survey, equal to +196 thousand units (revised from +155 thousand). The unemployment rate for January instead rose to 7,9% (consensus 7,8%), while the average hourly wage grew by 0,2% on a monthly basis, in line with expectations. The data was released today by the US Department of Labor.
During 2012, an average of 181 new jobs were created per month, more than the 153 in the first estimate. The December figure was also adjusted upwards, from 155 to 196.000 new employees, and the same is true for November, with hiring revised from +161 to +247.
Overall, however, the labor market is not making significant progress, as evidenced by the fact that 12,3 million people are still out of work and that the unemployment rate is well above the 6,5% target set by the Federal Reserve before proceeding with a review of monetary policy and an increase in interest rates.
