Private sector payrolls and jobs are up

Net nonfarm payrolls added 257,000 jobs in January and private sector jobs are 2 percent above the level seen a year ago. 

This chart shows total private nonfarm payrolls from 2001 to 2011. Totals are rising again after hitting bottom in 2009. (SoldAtTheTop)

Today’s Employment Situation Report indicated that in January, net nonfarm payrolls increased with private nonfarm payrolls adding 257,000 jobs and the unemployment rate declining to 8.3% over the same period.

Net private sector jobs increased 0.23% since last month climbing 2.06% above the level seen a year ago but but remained a whopping 4.47% below the peak level of employment seen in December 2007.