Friday, February 3, 2017

January's Jobs Report

The American economy generated 227,000 new jobs in January, marking the biggest gain in four months. Because the workforce expanded as well, the unemployment rate rose a tick to 4.8 percent, the Bureau of Labor Statistics said this morning.

Retail trade added 46,000 jobs in January, the single-best gain for any sector, which seems a bit odd, given it happened in the post-holiday shopping season. Clothing and clothing accessories added 18,000, electronics and appliance stores added 8,000, and furniture and home-furnishings stores added 6,000.

One downside: The change in total nonfarm payroll employment for November was revised down from 204,000 jobs to 164,000. Over the past three months, job gains have averaged 183,000 per month.

No comments:

Post a Comment