(VIDEO) Blowout January Jobs Report, 225,000 New Jobs & The Labor Force Grew 574,000

by AmericasKeepersAdmin on February 07, 2020

Trump’s record-breaking streak continues as jobs report comes in better than expected

Blowout January Jobs Report, 225,000 New Jobs & The Labor Force Grew 574,000

“The report is unambiguously good. Strong growth and decent but not runaway wage growth should be good for stocks. Of course, we’ve had such a strong week, the markets are taking this in stride given how much we’ve been up so far.”
– Ed Campbell, portfolio manager at QMA

KEY POINTS:

  • Nonfarm payrolls surged 225,000 for the month, well above Wall Street estimates for a 158,000 gain.
  • The unemployment rate ticked higher to 3.6%, but for the right reason as the labor force participation rate increased 0.2 percentage points to 63.4%, matching its highest level since June 2013.
  • Average hourly earnings rose 3.1% over a year ago to $28.44, ahead of estimates for 3% growth.
  • Average hourly earning year on year: +3.1%vs. +3.0% expected and +3.0% in December.
  • Construction employment rose by 44,000
  • Health care added 36,000 jobs
  • Employment in transportation and warehousing increased by 28,000

The post (VIDEO) Blowout January Jobs Report, 225,000 New Jobs & The Labor Force Grew 574,000 appeared first on America's Keepers.

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