U.S. payroll employment continued to expand in January. But the gain of 112,000 is below estimates. Meanwhile the unemployment rate fell again, to its lowest level in two years.

It was the fifth straight month of payroll gains and the biggest gain since December 2000, but only because higher gains in prior months were revised sharply downward.

The unemployment rate fell to 5.6 percent, the lowest level since January 2002, from 5.7 percent in December.

Economists, on average, expected 165,000 new jobs, one forecast was for payroll growth as high as 300,000 jobs, and unemployment at 5.7 percent, according to Briefing.com.

By: DocMemory
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