The unemployment rate fell from 10.0% to 9.7% in January. Employment in manufacturing increased by 11,000 over the month.
Average hourly earnings in the U.S. for all employees in the private sector rose by 0.2% in January, and there was a 2.0% improvement over wages from one year ago. With the softened labor market, workers share lost bargaining power since the Clinton-era economic expansion.
