In The News...

The Labor Department reported today that employers added 243,000 new jobs in January, well above the 155,000 that was expected signaling that the job market continues to rebound from depressed levels. For the months of November and December the figures were revised up by 60,000. Within the report it showed that the Unemployment Rate ticked down to 8.3% from 8.5%. The Labor Department uses a different set of data to formulate the Unemployment Rate. The Nonfarm payrolls come from employers whereas the Unemployment Rate comes from a household survey. In other economic related news, the Institute for Supply Management released its ISM Non-Manufacturing Service Sector data for January rising to 58.6 from 52.6 in December. The Employment component of the report increased by 7.6% percentage points to 57.4%.

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