U.S Employers add 517000 jobs in January- Check out in detail
Economy added 517,000 jobs despite recession risk
Employers added a booming 517,000 jobs in January as hiring unexpectedly surged despite high inflation
The unemployment rate fell from 3.5% to 3.4%, lowest since 1969, the Labor Department said Friday.
Unemployment for Black people declined to 5.4%, lowest on record dating to 1972
Economists surveyed by Bloomberg had forecast 185,000 job gains.
The blockbuster jobs total will likely not be welcomed by a Federal Reserve looking for job gains and wage growth to slow to further reduce high inflation
Employment gains for November and December were revised up by a total of 71,000.
November’s was revised from 256,000 to 290,000 and November’s, from 223,000 to 260,000.
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