Though Unemployment Ticked Up in January, Upwardly Revised Fourth Quarter Employment Growth Provided Positive Impetus to Financial Markets

The Labor Dept. reported that the economy added 157,000 jobs in January, but the unemployment rate ticked up to 7.9% from 7.8%.

But it also reported sizable upward revisions in job growth for November and December. The financial markets were positive on this news, among a number of other factors, with the Dow Jones Industrial Average rising above 14,000 for the first time since 2007. Reactions by many economists were favorable, with many providing a further positive outlook for 2013 as a whole.