Job seekers fill a room at the job fair in Sunrise, Fla. U.S. employers added 157,000 jobs in January, and hiring was much stronger at the end of 2012 than previously thought, providing reassurance that the job market held steady even as economic growth stalled, according to Labor Department reports.WASHINGTON – The U.S. job market is proving surprisingly strong and raising hopes that the economy will be resilient enough this year to withstand a budget standoff in Washington and potentially deep cuts in federal spending.
Employers added 157,000 jobs last month, and hiring turned out to be healthier than previously thought at the end of 2012 just as the economy faced the threat of the “fiscal cliff.”
Still, unemployment remains persistently high. The unemployment rate ticked up to 7.9 percent last month from 7.8 percent in December.
Many economists, though, focused on the steady job growth – especially the healthier-than-expected hiring late last year. The Labor Department revised its estimates of job gains for November from an initial 161,000 to 247,000 and for December from 155,000 to 196,000.
The department also revised its figures for all of 2012 upward – to an average of 180,000 new jobs a month from a previously estimated 150,000.