T
he labor market added another 353,000 jobs in January. The Bureau of Labor Statistics revised the estimates for the prior two months up by 126,000 jobs. Amid these strong jobs gains, the unemployment rate stayed at 3.7%. It now has remained below four percent for 24 months, the longest such period since the early 1960s. As employers kept competing for workers, wages for all workers grew by 4.5% over the last 12 months. The unexpectedly strong performance, countering a weaker report one month earlier, led conservative commentator Larry Kudlow to pronounce it a “blowout jobs report”.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased