
Strike up the band. Break out the confetti. The market’s going to love this. The U.S. unemployment rate dropped to 8.3 percent and non-farm jobs grew by 243,000 in January.
This morning’s monthly report from the U.S. Department of Labor blasted through even the most optimistic of expectations. The jobs gain would have been the largest since May 2010, except that the Labor Department’s data group adjusted 2011′s jobs numbers. Now, only March (+246,000) and April (+251,000) had stronger numbers.
January is the second consecutive month to beat estimates. Economists predicted anywhere from MarketWatch’s tepid 121,000 to the more optimistic 182,000 in the Bloomberg survey. None of the widely reported surveys saw a decline in the unemployment rate. Read more…




























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