Just 113,000 workers were added to nonfarm payrolls, well under the 180,000 consensus, according to this morning’s January jobs report.
The private-sector hired a net 142,000 workers, meaning that the government shed 29,000 public sector jobs.
That’s in line with the trend as of late. The private sector is hiring and the public sector is firing.
Check out the chart from FTN Financial’s Chris Low.