U.S. Unemployment Rate Drops to 8.3%

that employers are squeezing as much work out of their existing employees as they can while still having to seek new hires. Manufacturing payrolls increased by 50,000 in January, the most in a year.

Employment at service-providers increased 162,000, reflecting faster job gains in retail, transportation, and leisure and hospitality. Construction companies added 21,000 jobs last month.

The private sector added a total of 257,000 jobs in January, while government payrolls decreased by 14,000, reflecting cuts at federal and local levels.

Don’t Miss: Same-Store Retail Sales Rose 4.2% in January

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To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com