January Jobs Report – 243,000 New Jobs

There were 243,000 new nonfarm payroll jobs added during January, 2012 according to the U.S. Department of Labor.  The good news from the January Jobs report is that new jobs were created in a variety of industries and employment sectors.   The report stated there were large employment gains in professional and business services, leisure, hospitality and manufacturing.

In addition, the January Jobs Report also reported the unemployment rate dropped to 8.3%.   The unemployment rate has been declining every month since August, 2011.  This is the lowest unemployment rate since early 2009.  The report stated the number of unemployed persons declined to 12.8 million in January.   The report also revealed that the number of persons employed part time for economic reasons was 8.2 million. 

Here is a recap of the non-farm payroll jobs that were added in January by the major employment sectors.

Professional and business services add 70,000 jobs.  The majority of the new jobs were in the employment services area.  There were also jobs gains in accounting, bookkeeping, and in the architectural and engineering services.

Leisure and hospitality industries added 44,000 new jobs.  The majority of new jobs in this area were in food services.  The report stated that approximately 487,000 new jobs have been added in the food services area since February, 2010.

Healthcare gained 31,000 new jobs primarily in the hospitals and ambulatory care services.

Wholesale trade jobs added 14,000 new jobs.  The sector has added 144,000 new jobs since a low in May, 2010.

Retail Trade added jobs in a variety of areas, department stores added 19,000 new jobs, health and personal care stores up 7,000 new jobs, and 7,000 new jobs at automobile dealers.  The retail trade sector has added 390,000 new jobs in December 2009.

Manufacturing added 50,000 new jobs in areas like metal fabrication up 11,000, machinery up 11,000, motor vehicles and parts jobs increased 8,000.  Durable goods manufacturing area has added 418,000 new jobs over the last two years.

The Construction sector also added new jobs in January.  It increased by 21,000 new jobs in January, following a gain of 31,000 jobs the prior month. 

Mining added 10,000 new jobs in January, with most of the gains in areas that support mining activities.

Click Here to access the January Jobs Report from the U.S. Department of Labor.