Unemployment Rate Decreases Slightly in January

Both employment, and the unemployment rate, were essentially unchanged in January, the Department of Labor reports. Nonfarm payroll employment totaled 138.1 million while the unemployment rate decreased slightly to 4.9 percent, down from 5 percent in December.

The small January movement in nonfarm payroll employment (-17,000) reflected declines in construction and manufacturing and job growth in health care. Average hourly earnings rose by 4 cents, or 0.2 percent, over the month.