Behind the New Jobs Numbers: "On the surface, the January jobs report sows nothing but confusion -- bad top-line jobs but a sharp drop in unemployment. The Bureau of Labor Statistics (BLS) reported only 36,000 new nonfarm jobs -- 50,000 new jobs in the private sector. But unemployment was down from 9.4 percent to 9.0 percent. So what to make of this report? asks Douglas Holtz-Eakin, president of the American Action Forum.
Weather, weather, weather.
* The BLS underplayed this in its release, but the performance of weather-sensitive sectors suggests otherwise.
* Construction lost 32,000 jobs, and transportation payrolls were down by 38,000.
* Still, the overall data had little strength in hours worked or weather-insensitive categories.
Inside the unemployment rate."
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