Free Markets, Free People

Economic Statistics for 7 Feb 14

Consumer credit jumped $18.8 billion in December, including a big $5.0 billion increase in revolving credit.

The BLS reported a paltry 113,000 net new jobs were created in January. Yet the unemployment rate laughably fell a tick to 6.6%. Still, 638,000 people came back into the labor force, and the participation rate rose 0.2% to 63%. Average hourly earnings increased by 0.2%, while the average work week remained steady at 34.4 hours.


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