The Bureau of Labor Statistics has announced that the U.S. added 151,000 jobs in the month of January, making it the 71st straight month that the economy has added jobs. This contributed to the unemployment rate being stable at 4.9 percent.
The latest numbers show that the manufacturing and retail trade industries saw the highest growth in jobs, while transportation, warehousing, and private educational services were the industries with the highest loss of jobs.
In a statement by Jason Furman, the Chairman of the Council of Economic Advisers, he highlighted the decline in unemployment and the strength of the recovery, noting that 14 million jobs have been added to the economy in a period of over 5 years.
He also noted the disconnect between job growth and GDP growth, an unchanging labor force participation rate, and the disparities in the labor market pertaining to African Americans.
"Nevertheless, more work remains to drive further job creation and faster wage growth, including passing the President’s new proposal for ambitious investments in 21st-century clean infrastructure, opening our exports to new markets with the Trans-Pacific Partnership, and raising the minimum wage."
Both the Bureau and the Administration have stated that these numbers are subject to revision.
