The Bureau of Labor Statistics released January's jobs numbers this morning, and the economy added 243,000 jobs last month. Unemployment dropped from 8.5 percent to 8.3 percent—the lowest the rate has been in nearly three years. Forecasts had predicted that the economy would only pick up 150,000 jobs, so this morning's news is a unexpectedly good. The White House is probably cheering January's hiring surge—the incumbent president's chances at reelection hinge on the growth of the economy.
Chart of the Day
Once Facebook raises the $5 billion for its initial public offering, the company is expected to have a market valuation of $80-100 billion. The company has a very different structure than other companies of similar worth—with only 3,200 staff, Facebook is dwarfed by its stock market competitors in size.
Reason to Get Out of Bed in the Morning
Mayor Michael Bloomberg donated $250,000 to Planned Parenthood to help make up for its $700,000 shortfall after Susan G. Komen for the Cure foundation withdrew funding this week. Planned Parenthood also received $650,000 from small donors within 24 hours of Komen cutting funds.
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