Yellen took over from Bernanke just as the recovery in the jobs market appears to have stalled. In January, the US added just 113,000 new jobs, up from an even more disappointing 75,000 in December. Both figures were well below economists’ forecasts. Last year, the economy added an average of 194,000 jobs per month.Oh sweet Jesus on the last part.
“I was surprised that the jobs reports in December and January, the pace of job creation, was running under what I had anticipated. But we have to be very careful not to jump to conclusions in interpreting what those reports mean,” she said. She said the extremely cold winter may have affected the numbers.
So, nevermind then.