US employers added 130,000 jobs in January, nearly doubling the 65,000 consensus forecast and signaling unexpected resilience in the labor market.
The Bureau of Labor Statistics, the federal agency tracking employment data, reported the unemployment rate dipped to 4.3%, below the anticipated 4.4%.
Healthcare drove much of the gain, contributing 82,000 positions, while social assistance added another 42,000. Federal government payrolls fell by 34,000, extending a decline that began in late 2024.
Private-sector hiring reached 172,000, far exceeding the 68,000 projected by economists.
The Federal Reserve monitors nonfarm payroll data closely when assessing inflation pressures and calibrating interest rate policy. The stronger-than-expected figures could complicate deliberations about potential rate cuts.
Revisions to prior months painted a less optimistic picture. November and December figures were adjusted downward by a combined 17,000 jobs, suggesting the labor market had cooled more than initially reported heading into the new year.
Source: https://cryptobriefing.com/us-nonfarm-payrolls-growth-double/
