WASHINGTON - U.S. employers added 157,000 jobs in January, and hiring was much stronger at the end of 2012 than previously thought, providing reassurance that the job market held steady even as economic growth stalled.
The number of people seeking U.S. unemployment aid fell sharply last week as a temporary spike caused by Superstorm Sandy has faded. Weekly applications have fallen back to a level consistent with modest hiring.
Federal unemployment benefits are set to run out this holiday season for over 2 million Americans out there still looking for work. Their only chance for survival is if Congress decides to extend the deadline for them to file for an extension for those benefits. However, with amendments to the program made already earlier this year, the outcome appears very bleak.
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