Job Growth Exploded in January

U.S. employers added 517,000 new jobs in January, much more than expected, according to the latest employment report from the U.S. Bureau of Labor Statistics (BLS).

That’s compared with an average monthly gain of 401,000 new jobs in 2022. Most of the payroll growth came in the hospitality industry, as bars, restaurants and hotels added 128,000 positions. The unemployment rate edged down to 3.4 percent, possibly the lowest on record. Average hourly earnings rose 4.4 percent year over year.
Source: New feed 2