February 7, 2016
The U.S. economy added 2.67-million jobs over the last 12 months, its lowest level since June 2014, the Labor Department reported. That slowdown didn’t stop the unemployment rate from dipping to 4.9 percent, the lowest it has been since February 2008.
Employers added 151,000 jobs in January, down from December when 262,000 jobs were added. The complexity of the jobs mosaic is reflected in the lack of declines in broader gauges of unemployment and underemployment.
- The labor-force participation rate has dropped in recent years, even as many labor market indicators have improved.
- The share of unemployed Americans seeking work for more than six months is still higher than when the Great Recession began.
Falling oil prices continued to be a dark cloud over the U.S. energy sector, which lost 7,000 jobs in January, and nearly 150,000 since September 2014.