US job growth seen snapping back from winter chill

WASHINGTON, Feb 7 (Reuters) :  US employment likely rebounded in January after being held back by cold weather the prior month, which would offer assurance that economic growth was not faltering.

Nonfarm payrolls are expected to have increased by 185,000 last month, according to a Reuters survey of economists, with the jobless rate seen holding at a five-year low of 6.7 per cent. Economists also expect December's paltry count of 74,000 net new jobs, viewed by many as an anomaly, to be raised sharply.

"We are far from having a booming economy, but we are growing increasingly confident that the economy is developing enough internal momentum to reach take-off velocity," said Bill Hampel, chief economist at the Credit Union National Association in Washington.

A report on Monday showing a surprise drop in factory activity to an eight-month low in January spooked investors and fanned fears of a rapid cooling off in growth after the economy's robust performance in the second half of 2013.