Reuters - Video

EDITION: U.S. | U.K. | IN

Video

Job market keeps building

Friday, February 01, 2013 - 01:58

Feb 1 - A couple of big revisions to jobs data show a solid upward trend - motivating more of the out of work to start looking for jobs again. Bobbi Rebell reports.

▲ Hide Transcript

View Transcript

The job market is a lot healthier than many had believed. Newly revised data show the 3-month new job average at 200,000, getting closer to the 250,000 benchmark that economists believe is key to making serious headway on the unemployment rate. The economy added 157,000 jobs last month as expected. And the unemployment rate inched higher to 7.9 percent. But even that was seen as a good sign. S&P's Beth Ann Bovino explains: SOUNDBITE: BETH ANN BOVINO, DEPUTY CHIEF ECONOMIST, STANDARD & POOR'S (ENGLISH) SAYING: "You have some piece of good news in there. You saw people gaining jobs but even more people coming back to the workforce. Those people are coming back looking for work, optimistic that they will find one. Of course they are counted as unemployed but still a positive move." Hourly wages went up- a good sign that consumers will take home more money- and have more to spend. Government jobs continue to fall- all the gains were private sector jobs. The sectors that are growing - like construction- could have a snowball effect. PIMCO'S Tony Crescenzi: SOUNDBITE: TONY CRESCENZI, MARKET STRATEGIST, PIMCO (ENGLISH) SAYING: "A good gain in construction-related jobs was seen in the report and there could be more to come during the spring months when things begin to thaw out because the housing market does seem to be a bit better so that's one of the keys to 2013. Will the housing market cause some increase in job growth. In fact for every home built there is roughly three jobs created." The U.S. government says it's committed driving more job growth: White House Economic Advisor Alan Krueger: SOUNDBITE: ALAN KRUEGER, CHAIRMAN, WHITE HOUSE COUNCIL OF ECONOMIC ADVISORS (ENGLISH) SAYING: "The President has steadfastedly supported greater investment in our infrastructure to rebuild our roads and highways and airports and ports. That will strengthen the economy in the future; put more construction workers back to work today. You know, we are still shaking off the effects of the Great Recession. We've done a lot of healing but we are not back to full health." The news was a relief. News out earlier in the week showed a contraction in GDP.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Job market keeps building

Friday, February 01, 2013 - 01:58

Editors' Picks »

Moving Pictures »

Images of November Images of November

Tue, 02 Dec, 2014 - (0:30)

Images of October Images of October

Mon, 03 Nov, 2014 - (0:57)

The world in a city The world in a city

Fri, 31 Oct, 2014 - (1:30)

Real-life superheroes Real-life superheroes

Tue, 28 Oct, 2014 - (1:44)

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

Dateline Asia »

North Korea to blame for Sony hack: source North Korea to blame for Sony hack: source

Thu, 18 Dec, 2014 - (1:10)

China's house prices fall again China's house prices fall again

Thu, 18 Dec, 2014 - (1:10)

China's child labor problem China's child labor problem

Thu, 18 Dec, 2014 - (2:19)

Measuring up North Korea's heir Measuring up North Korea's heir

Wed, 17 Dec, 2014 - (1:03)

Russia worries rock emerging markets Russia worries rock emerging markets

Wed, 17 Dec, 2014 - (1:14)

Seoul raises the "nut rage" stakes Seoul raises the "nut rage" stakes

Tue, 16 Dec, 2014 - (1:03)

Sydney in shock after hostage horror Sydney in shock after hostage horror

Tue, 16 Dec, 2014 - (1:07)

Not all merry and bright in China's manufacturing sector Not all merry and bright in China's...

Tue, 16 Dec, 2014 - (1:29)

Beneath the surface of Abe's big win Beneath the surface of Abe's big win

Mon, 15 Dec, 2014 - (1:15)

Some hostages escape from Sydney cafe Some hostages escape from Sydney cafe

Mon, 15 Dec, 2014 - (1:06)

Reuters Investigates »

Where the sea is closing in Where the sea is closing in

Thu, 20 Nov, 2014 - (3:41)

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:22)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)