Chart of the Day: Net New Jobs for January


The American economy added 113,000 new jobs in January, but about 90,000 of those jobs were needed just to keep up with population growth, so net job growth clocked in at 23,000. That’s two consecutive months of dismal job growth numbers.

On the bright side, the headline unemployment rate declined from 6.7 percent to 6.6 percent, and this wasn’t just a matter of people dropping out of the labor force. The number of employed persons was up over 600,000 and the labor force participation ratio ticked up a couple of tenths.

As always, though, the unemployment numbers come from the household survey, while the job growth number comes from the payroll survey, which is much larger and thus more reliable. The employment numbers hint that things might be better than we think, but it’s only a hint. Overall, this is a very weak jobs report, and coming on the heels of a weak December report, they suggest that the American economy is still pretty fragile.

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This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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