Market Environment
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February 14, 2017

January 2017 Market Environment

U.S. Economy

The unemployment rate increased to 4.8% for the month of January. The number of unemployed persons rose to about 7.6M for the month. The participation rate also increased to 62.9% and the employment-population ratio rose to 59.9%. Average duration of unemployment decreased to 25.1 weeks during the month, and is down from 29.0 weeks this time last year. The broader U-6 measure of unemployment increased slightly to 9.4%. The nonfarm payroll, the net number of non-farm jobs added or subtracted per month, rose by 227K. Job growth has averaged 181K per month in the last twelve months. Job growth during January was strongest in retail trade (46K), construction (36K), financial activities (32K), food services (30K), professional and business services (23K), and health care (18K). Employment in other major industries was mostly unchanged during the month. Non-farm payroll employment for November and December was revised to show 39K less jobs than previously reported.

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