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Financial News: U.S. Employment Surges Much More Than Expected In

U.S. Employment Surges Much More Than Expected In January

02/02/2024 - 08:36:00 (RTTNews)

(RTTNews) - The Labor Department released a closely watched report on Friday showing employment in the U.S. surged by much more than expected in the month of January.

The report said non-farm payroll employment spiked by 353,000 jobs in January compared to economist estimates for an increase of about 180,000 jobs.

Job growth in November and December was also upwardly revised to 182,000 jobs and 333,000 jobs, respectively, reflecting a net upward revision of 126,000 jobs.

Meanwhile, the Labor Department said the unemployment rate in January came in unchanged from the previous month at 3.7 percent. Economists had expected the unemployment rate to inch up to 3.8 percent.

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