It’s that time of month again! According to the Department of Labor, 113,000 jobs were added to the economy last month.
The good news? It’s an improvement from December.
The bad news? It’s weaker than experts had anticipated. As per CNN, economists were hoping for a number around 178,000.
Let’s look at another highlight, shall we? The report reflected an unemployment rate of 6.6 percent. That’s the lowest rate in five years! That’s worth repeating — it’s the lowest rate in five years!
Keep in mind the unemployment rate spiked at 10 percent in 2009 but there’s also been a labor force dropout. As of last month, per the piece, only 63 percent of Americans older than 16 actually participated in the labor market by working or actively searching for a job.