The U.S. economy had a net gain of 151,000 jobs in January, which is lower than the previous couple of months and less than most economists had predicted.

Friday’s report from the Labor Department also said the unemployment rate fell slightly to 4.9 percent, its lowest level in nearly eight years.

Government experts say wages rose 2.5 percent over the past year, but 7.8 million people remain out of work, and another 6 million who want full-time employment can only find part-time jobs.

Last month, jobs were lost in warehousing, private education companies and the oil industry, while hiring rose in retail, restaurants, health care and manufacturing.  

President Barack Obama commented on the report, saying, “Right now, the United States of America has the strongest, most durable economy in the world.”

In remarks at the White House, he said businesses have added 14 million new jobs in just under six years. Obama also said economic growth is starting to be reflected in Americans’ paychecks. “Over the past six months, wages have grown at the fastest rate since the [2007 – 2008 financial] crisis.”

WATCH: Obama discusses the US economy

S&P rating chief economist Beth Ann Bovino says the hiring numbers are below expectations, but still show “America’s recovery is continuing” and may encourage the central bank to continue raising interest rates.  

Tara Sinclair, chief economist for the jobs site “Indeed” says the report is a positive indicator and shows that demand for workers is still high.  

White House economic adviser Jason Furman says the number of jobs created in January is well above what is needed to accommodate new entrants to the workforce.  He says the U.S. economy has gained 14 million jobs in just under six years.  

A separate report on U.S. trade was less positive, showing a growing gap between what U.S. companies sell to foreign buyers and what Americans buy from abroad.  The trade deficit grew $1.2 billion in December to a total of more than $43 billion for the month.

Analysts say the strong U.S. currency is making American-made products more expensive on global markets, hurting sales.  Wells Fargo Bank experts also say slow growth in U.S. trading partners is hurting demand for exports, which can slow U.S. economic growth.
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