U.S. Employment Report for January
Employers in the U.S. added 143,000 workers to payrolls in January, with the unemployment rate slipping to 4.0%. Economists had expected 168,000 jobs. Wage gains were stronger than expected, with average hourly earnings rising by 0.5%.
Key Points
- Private-sector employment grew by 111,000
- Wage gains were much stronger than expected
- Revisions to November and December job numbers were positive
Pros
- Job growth in various sectors
- Strong wage gains
Cons
- Seasonal downsizing in retail sector
- Economists' expectations not fully met