File - People wait in line at a job fair held by the Miami Marlins. Employers added a scant 74,000 jobs in December.
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U.S. employers hired far fewer workers than expected in January, and job gains for the prior month were barely revised up, suggesting a loss of momentum in the economy, even as the unemployment rate hit a new five-year low of 6.6 percent.It was the weakest two months of job growth in three years.U.S. stock index futures fell sharply after the report, while prices for U.S. Treasury debt rallied.The participation rate, or the proportion of working-age Americans who have a job or are looking for one, increased to 63 percent from 62.8 percent in December, when it fell back to the more than 35-year low hit in October.Government payrolls fell 29,000, the largest decline since October 2012 . Manufacturing employment increased 21,000, rising for a sixth month.
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