Economy Adds 111,000 Jobs; Unemployment Ticks Up to 4.6%

Click here to write a Letter to the Editor.
U.S. payrolls rose by 111,000 in January and the unemployment rate rose to 4.6% from 4.5%, the first increase in three months, the Labor Department said Friday.The jobs gain followed a 206,000 rise in December that was more than originally reported. The additional jobs level topped analysts’ forecasts 150,000 new jobs, Bloomberg reported. The unemployment rate was forecast to hold at 4.5%.Manufacturing employment fell by 16,000 after losing 18,000 in December. The unemployment-rate gauge is based on a survey of households. The number of payroll jobs added is determined by a separate survey of business and government establishments.Because employment levels drive so much economic activity, an increase in employment can help consumer confidence and spending patterns, which affect trucking demand.