US jobs and wages grew faster than expected in January.
The Labor Department said on Friday that nonfarm payrolls increased by 353,000 from December. That's nearly double the market's forecast of around 180,000.
Average hourly pay rose 4.5 percent from the same month last year, and was up 0.6 percent from December.
The unemployment rate remained unchanged at 3.7 percent.
Employers have not stopped hiring despite higher interest rates that were expected to ease the tight labor market.
US Federal Reserve Chair Jerome Powell signaled on Wednesday that a rate cut is unlikely at the Fed's next meeting in March, citing the risk of inflation picking up again.
The Labor Department said on Friday that nonfarm payrolls increased by 353,000 from December. That's nearly double the market's forecast of around 180,000.
Average hourly pay rose 4.5 percent from the same month last year, and was up 0.6 percent from December.
The unemployment rate remained unchanged at 3.7 percent.
Employers have not stopped hiring despite higher interest rates that were expected to ease the tight labor market.
US Federal Reserve Chair Jerome Powell signaled on Wednesday that a rate cut is unlikely at the Fed's next meeting in March, citing the risk of inflation picking up again.
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Summary
US jobs and wages increased significantly in January: nonfarm payrolls rose by 353,000 compared to the anticipated 180,000. Average hourly earnings grew 4.5% year-over-year and 0.6% month-over-month. Unemployment rate remained steady at 3.7%. Employers continue hiring despite higher interest
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ID: a52a7d71-440b-418e-aa8f-7aa8b7e5d8cd
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20240203_04/
Date: Feb. 3, 2024
Created: 2024/02/04 06:30
Updated: 2025/12/08 18:09
Last Read: 2024/02/04 12:32