Job Growth Beats Expectations: U.S. Added 227,000 Jobs In January
Good news for the market: US economy created 227,000 new jobs in January, as jobless rate rises to 4.8%. The figures could bee interpreted as a reflection of activity under Barack Obama Administration.
Employers in the U.S. added 227,000 non-farm jobs in January, the Bureau of Labor Statistics reported on Friday. Economists were projecting 175,000 jobs added.
The closely watched figure was the best since last September and comes after Trump won the election promising jobs growth and pushing US companies to employ American citizens, threatening to tax imports of goods made outside US borders, reported The Guardian.
The BLS said that job gains occurred in the areas of retail trade, construction, and financial activities.
However, the unemployment rate inched up to 4.8%, from 4.7%, revealing the struggle ahead for Trump, and underlines Obama’s record on job creation. January marked the 76th consecutive month of job gains, the best on record. The unemployment rate, at 4.8%, is in line with the Federal Reserve’s estimate for a normal job market.
As reported in The Guardian.