The U.S. created a less-than expected 157,000 jobs in January and the unemployment rate rose to 7.9 percent, but the economy added more jobs in 2012 than previously estimated.
Employment gains for December and November were revised sharply higher, according to new Labor Department figures released Friday.
The number of new jobs created in December was revised to 196,000 from 155,000. November's figure was revised to 247,000 - the biggest increase in 10 months - from 161,000.
"The economy, sales, employment and the stock market are all higher in spite of the bickering and rancor in Washington," said Bernard Baumohl, the chief global economist at the Economic Outlook Group, according to the New York Times. The latest numbers "all point to an economy that is building steam and a private sector that seems almost dismissive to the sequestration and debt ceiling threats from Washington."
Meanwhile, the large gains in hiring in January occurred in the retail, construction, health care and wholesale trade sector. Construction companies added 28,000 jobs in January and nearly 100,000 in the past four months. The gains are consistent with a rebound in home construction and a broader recovery in housing.
Retailers added 33,000 positions in January and health care gained 23,000 jobs. Manufacturers posted a small increase of 4000. Restaurants and hotels added 17,000.
Hourly wages are up 2.1 percent over the past 12 months. Annual government revisions of employment also showed that the U.S. added 335,000 more jobs in 2012 than originally estimated.
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