U.S. Economy Added 225,000 Jobs in January

HU-885118952

Unemployment ticked up a tad to 3.6% due to job seekers flooding the market.

Expectations exceeded once again!


https://www.wsj.com/articles/january-jobs-report-11581076802?mod=e2tw


Employers added 225,000 jobs in January and the jobless rate was 3.6%, signs that the U.S. labor market is positioned to fuel economic growth in 2020.

Wages increased 3.1% from a year earlier, a touch higher than December’s annual rise of 3%.

Economists surveyed by The Wall Street Journal had forecast job growth of 158,000, an unemployment rate of 3.5% and year-over-year wage growth of 3.0%.

January’s robust payroll gain points to a continued healthy labor market in a U.S. economic expansion now in its 11th year. Over the past three months, the U.S. economy added an average 211,000 jobs. Job growth was revised higher in the last four months of 2019.

Robert Jones, president of American Sale, an Illinois-based retailer of home-recreation goods such as trampolines and hot tubs, said his company will add more workers this year. He expects a low unemployment rate and solid economy to help spur spending on big-ticket items.

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Comments (12)
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Nana H

Has he caught Obama' s numbers in the three years preceding Trump? I will check later, think this may at least give him a tie.

Unfortunately, I see that manufacturing lost another 12,000 jobs.

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Kathy

Mostly service industry jobs.

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cecily 7A

I noticed two months ago that the job growth was primarily in service industries.

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Nana H

Although service industry jobs are generally low wage, low benefits jobs a growth in this area usually refects the fact people are out spending money, and thats a good thing.

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Kathy

We are a consumer economy. All it takes is a slight set back to crash it. People living week to week is not a strong economy. I do not see any long term solutions in education, job training, infrastructure, healthcare. It’s short term thinking.

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numbersjunkie

From Reuters:

WASHINGTON (Reuters) - U.S. job growth accelerated in January, with unseasonably mild temperatures boosting hiring in weather-sensitive sectors, indicating the economy will probably continue to grow moderately despite a deepening slump in business investment.

The Labor Department’s closely watched monthly employment report on Friday, however, showed the economy created 514,000 fewer jobs between April 2018 and March 2019 than originally estimated. The biggest downgrade to payrolls over a 12-month period since 2009 took some of the shine from the employment report, which also showed a pickup in wage gains.

“Strong job creation and firming wage growth in January provided reassurance that the record-long economic expansion still has room to run,” said Lydia Boussour, a senior U.S. economist at Oxford Economics in New York. “But this latest health report also points to a maturing labor market. Benchmark revisions indicate this labor market isn’t as youthful as it has pretended to be over the last two years.”

Nonfarm payrolls increased by 225,000 jobs last month, with employment at construction sites increasing by the most in a year amid milder-than-normal temperatures, the government’s survey of establishments showed. There were also strong gains in hiring in the transportation and warehousing industry.

Economists polled by Reuters had forecast payrolls would rise by 160,000 jobs in January. Data for November and December was revised to show 7,000 more jobs created than previously reported. Job growth in January exceeded the monthly average of 175,000 in 2019. Employment gains averaged 193,000 in 2018.

Bold Type added for Emphasis


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queenmargo

I do not see any long term solutions in education, job training, infrastructure, healthcare. It’s short term thinking.

Obama, who was "shovel ready" lol, did nothing. 8 looooooong years, he should have does some term thinking.

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catkinZ8a

Where'd all the bailout money go?

Where'd Obama's $1.8 billion taxpayer money gift to Ukraine go?


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numbersjunkie

Who's talking about Obama? This is about Trump.

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numbersjunkie


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jerzeegirl (FL zone 9B)(9b)

Unfortunately, although jobs were added, wages are going down. As stated above, it's likely the numbers are being manipulated.

Last week, Lucky's Market went BK. This week it's Earthfare. And this week Macy's announced it is closing 125 stores. This is not a healthy economy.

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numbersjunkie

How can the economy stay healthy when "normal" people have no disposable income to spend? Income inequality will choke the domestic economy to death. We'll have to export everything for sale in other "socialist" countries, our workers will starve to death and quickly be replaced with robots.

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