The US economy created just 112,000 new jobs in January, far fewer than expected, government data showed on Friday in a disappointing report that will likely weigh on President George W. Bush’s re-election campaign. The fifth straight monthly gain in payrolls outside the farming sector was the largest since December 2000, the Labour Department said. However, its report still showed weak hiring 26 months after the economy climbed out of recession. ‘‘The payrolls number was well below market expectations and confirms the jobs market in the US is weak,’’ said Daniel Tenengauzer, vice-president for foreign exchange at Lehman Brothers. Analysts had been expecting the economy, which has been showing strength in areas outside the jobs market, to add 150,000 new jobs in January after an originally reported gain of only 1,000 the previous month. (Reuters)
