Unemployment Inches Up to 7.9%

The unemployment rate ticked up from 7.8% to 7.9% in January, according to a jobs report the Wall Street Journal calls "disappointing." The economy added 157,000 jobs, slightly below expectations of 166,000. But here's some news that got a "Whoa, mama!" from the Journal: Numbers for November and December were revised significantly upward, with 247,000 jobs added in November (rather than the initially reported 161,000) and 196,000 in December (as opposed to 155,000 initially reported). That means the economy added, on average, 181,000 jobs per month in 2012, up from a previously reported 153,000. (More unemployment stories.)