Unemployment Rate Edges Down To 8.3 Percent

The nation’s unemployment rate dipped to 8.3 percent in January from 8.5 percent the month before as private employers added 257,000 jobs to their payrolls, the Bureau of Labor Statistics just reported.

We’ll add more from the report momentarily.

Update at 8:42 a.m. ET. Upward Revisions:

“The change in total nonfarm payroll employment for November was revised from +100,000 to +157,000, and the change for December was revised from +200,000 to +203,000,” BLS says.

Update at 8:40 a.m. ET. More From The Report:

– At 8.3 percent, the jobless rate is the lowest it’s been since February 2009.

– The unemployment rate has now fallen for five straight months and is down from 9.1 percent a year earlier.

– While private employers added 257,000 jobs to their payrolls, the number of jobs at government agencies continued to decline. State, local and federal agencies shed 14,000 positions. So the net gain in payroll employment at private and public workplaces was 243,000.

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