(VIDEO) Blowout January Jobs Report, 225,000 New Jobs & The Labor Force Grew 574,000
Trump’s record-breaking streak continues as jobs report comes in better than expected
“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
- 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
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