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By Jason Stipp | 02-05-2010 09:53 AM

The Jobs Will Come

Despite continued, though mild, job losses in January, there were plenty of more positive signs in Friday's report.

Jason Stipp: I'm Jason Stipp from Morningstar. The government released its employment data Friday morning. Although we were hoping for a little bit of a job gain, we did see 20,000 more jobs lost in January--a small number. And there were a lot of bright spots in the report, including unemployment rate dipping down to 9.7 percent, from 10 percent before.

Here with me to talk about the numbers is Morningstar's Bob Johnson. He's associate director of economic analysis. And Vishnu Lekraj, he covers the employment sector. Thanks for joining me, guys.

Vishnu Lekraj: Thank you.

Bob Johnson: Nice to be here.

Stipp: So first things first, we talked yesterday. We weren't necessarily expecting to see job gains. We were hoping to maybe see some job gains. We did see a little loss. So Bob, what was behind that slightly negative number?

Johnson: Sure. I think one of the things we alluded to yesterday was the construction sector. And we did lose 75,000 jobs there. And that was a little bit more than I had been thinking even, and that's what swung the negative. Most of the other categories performed better than I expected during the quarter.

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