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08 Feb 2013

Jobs Report

From AP, “Labor Department reports 157,000 jobs added in January, unemployment rate ticks up to 7.9%.” … After department’s annual revisions, hiring was stronger over the past two years than previously thought. Perhaps the biggest news from the report: The November and December jobs numbers were revised upward — to 247,000 in November and 196,000 in December. NEED TO KNOW: the unemployment rate is calculated from a survey of households, while job gains come from a survey of employers. THANK THE HEALTH CARE INDUSTRY FOR THE ECONOMIC RECOVERY National Journal reports, “Since the recession hit in late 2007, a huge proportion of the new jobs have been in the health sector—hospitals, doctors’ offices and nursing homes. All along, those jobs have been rising at a steady clip, while jobs in all other sectors have seen more dismal performance. New health care jobs made up 14.6% of the total jobs added, and were among the top contributors to the overall gain in employment.” Today’s Bureau of Labor Statistics job report show the trend contributing.

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