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January Payrolls Jump 243,000

Better-than-expected report includes decline in unemployment rate to 8.3%

By Bob Willis, Bloomberg | Updated on February 03, 2012

Employment climbed more than forecast in January and the U.S. jobless rate unexpectedly fell to the lowest in three years, casting doubt on the Federal Reserve’s pledge to keep interest rates low until late 2014.

The 243,000 increase in payrolls was the most since April and exceeded all forecasts in a Bloomberg News survey, Labor Department figures showed in Washington. The unemployment rate dropped to 8.3 percent, the lowest since February 2009.

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