The incredible Obama Boom continues to spread prosperity! 157,000 jobs were created in January. The Unemployment rate went up and to 7.9%. The labor force participation is still 63.6%, which is near historic lows.
The new year started off with an old story: Employment grew again in January but not at a pace able to lower the jobless rate.
Nonfarm payrolls rose 157,000 for the first month of 2013 while the unemployment rate edged higher to 7.9 percent, news unlikely to alter the Federal Reserve’s monetary policy or instill confidence that the recovery is gaining steam.
Economists were looking for 160,000 net new jobs created with the unemployment rate holding steady at 7.8 percent.
The ho-hum jobs numbers for January were accompanied by substantial revisions higher for previous months, according to the report from the Bureau of Labor Statistics.
Traders reacted positively to the report, providing a healthy gain at the market open.
If a Republican was President, the media would be destroying these numbers. But since it their believe god-king, well stagnant growth is great! 8 million Americans have left the workforce since Obama has been President and no mention of this by the media. Wall Street loves the report because it means that the Federal reserve will keep the money spigot open to prop up the market. Meanwhile American’s purchasing power and standard of living continues to decline. Low expectations is now the norm in American. This is unacceptable, but with the Media-Industrial Complex controlling the narrative, Americans are happy at stagnant growth.