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2/7/2014 2:32:58 PM
5

Jobs report: unemployment down to 6.6%, but hiring sluggish

The recovery is slowing down

5

It's just an anomaly

8

END DA FED

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[url=http://www.washingtonpost.com/politics/us-jobs-report-for-jan-might-be-hard-to-interpret/2014/02/07/6f1eb2e0-8fce-11e3-878e-d76656564a01_story.html]Employers added 113,000 jobs, the government said Friday, far less than the average monthly gain of 194,000 last year. This follows December’s tepid increase of just 75,000. Job gains have averaged only 154,000 the past three months, down from 201,000 in the preceding three months. Sluggish job growth for a second straight month may reflect what investors and economists have begun to fear: That the U.S. job market is weakening again, along with sectors like manufacturing and retail sales in the United States and abroad. The weakness might also raise doubts about the Federal Reserve’s plans to steadily scale back its economic stimulus this year. Still, more people began looking for work in January, a sign that they were optimistic about finding work. Some of these people found jobs, thereby reducing the unemployment rate to 6.6 percent. That’s the lowest rate since October 2008.[/url] The US finished 2013 on a hopeful note, and while December's unusually low jobs numbers were chalked up to bad weather, most people predicted the economy would be back up to speed last month. The service sector and high-paying industries added jobs, and retailers and the government cut them.

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