Employment Growth Rises Above 300,000 in the First Month of the Year
Unemployment Again Edges Up to Higher Rate of 4.0 Percent
JOB GROWTH: January hiring set a strong pace, with the addition of 304,000 new jobs. This was significantly higher than the adjusted 222,000 recorded for the previous month.
TOP INDUSTRIES: The industry sectors reporting the highest gains in January included leisure and hospitality, construction, healthcare and transportation
UNEMPLOYMENT: Hitting 4.0 percent, the unemployment rate edged up in January, following an increase in December. The partial government shutdown was cited as contributing to the latest rise.
WAGES: Hourly earnings trended up again, moving the average annual rate up to 3.2 percent.
WORK WEEK: The average
TEMPORARY JOB TRENDS: Growth in the temporary jobs sector slowed in January, adding only 1,000 new jobs in the first month of the year.
WHAT DOES IT ALL MEAN? The January jobs report offered strong evidence of a robust economy. Not only was January the 100th month of consecutive job growth,
This newsletter references the BLS Report of November activity, released 2/1/19.
Sources: U.S. Bureau of Labor Statistics (BLS), Steinberg Employment Research, CNBC, Staffing Industry Analysts, Bloomberg, FOX Business, CBS News, MarketWatch, The Washington Post, The Wall Street Journal