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| January Employment Data (#1) - Feb. 3, 2006 |
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Summary
Earlier this morning, the Labor Department reported that the unemployment rate in January fell to 4.7%, while payroll employment grew by 193,000 jobs.
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* Today's release from the Labor Department indicated that the unemployment rate in January fell an unexpected 0.2%, to 4.7%.
* The report also showed an increase of 193,000 payroll jobs during the month, versus a revised increase of 140.000 in December. (December was originally reported as +108,000.)
* Meanwhile, average hourly earnings rose 0.4% in January, to $16.41.
There were a significant number of revisions in today's report that will take a while to incorporate into my historical database. Therefore, a more detailed analysis will follow.
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