January Unemployment Rate 7.9 Percent

It was mostly good news in January's Labor Department report, which showed a stronger hiring picture over the last two years than previously thought.

The department's annual revision showed that employers added an average of 180,000 jobs per month in 2011 and 2012, 30,000 more jobs a month than previously estimated. The Labor Department says hiring increased tin the final three months of 2012 to 200,000 jobs a month, a possible sign of a strengthening job market.

For January, U.S. employers added 157,000 new jobs.

January's unemployment rate ticked up slightly to 7.9 percent, up from 7.8 percent in December. It still, however, marked five straight months that unemployment remained under 8 percent.