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Payrolls rise less than forecast, 113,000 jobs added

The 113,000 gain in employment followed a revised 75,000 increase the prior month.

By Shobhana Chandra | Updated on February 07, 2014
Job seekers line up to meet prospective employers during a career fair at a hotel in Dallas. (AP Photo/LM Otero)

Feb. 7 (Bloomberg) — Payrolls in the U.S. rose less than projected in January as retailers cut back after the holidays and government hiring fell. The unemployment rate unexpectedly declined to 6.6 percent.

The 113,000 gain in employment followed a 75,000 increase the prior month, Labor Department figures showed today in Washington. The median forecast of economists in a Bloomberg survey called for a 180,000 advance. The unemployment rate dropped to the lowest level since October 2008 even as more Americans entered the labor force.

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