US Unemployment Rate Jan: 3.6% (est 3.5% ; prev 3.5%)
The U.S. economy added a greater than expected 225,000 jobs in January, while the unemployment rate rose slightly to 3.6%.
Here were the main metrics from the Department of Labor’s January jobs report, compared to consensus expectations compiled by Bloomberg:
- Change in nonfarm payrolls: +225,000 vs. +165,000 expected
- Unemployment rate: 3.6% vs. 3.5% expected
- Average hourly earnings month on month: +0.2% vs. +0.3% expected
- Average hourly earnings year on year: +3.1% vs. +3.0% expected
- Ahead of the January jobs report, a number of other employment indicators presaged ongoing momentum in the labor market.
Weekly new unemployment claims declined in January after rising in December. For the week of the January payrolls survey, or the week of the 12th, claims were lower by 12,000 relative to December.