Employment growth in the US has doubled forecasts – Kommersant
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In January, 353 thousand new jobs appeared in the United States. Such data is provided in the monthly report Federal Bureau of Statistics of the US Department of Labor. The employment rate was almost twice as high as analysts had forecast, and experts say this indicates the strength of the labor market and its readiness to cope with broader economic growth, reports CNBC.
Business services added the most new jobs at 74,000, much more than the 2023 monthly average of 14,000. In the healthcare sector, the number of jobs increased by 70 thousand, which is also higher than the monthly average (58 thousand). Retail trade added 45,000 new jobs, government added 36,000, social services added 30,000, and manufacturing added 23,000. According to Glassdoor lead economist Daniel Zhao, “the fact that employment growth is so broad across industries “is a good sign,” which shows that the labor market enters 2024 “on a solid footing.”
Meanwhile, the unemployment rate remains at the same level for the third month in a row – 3.7%, the number of unemployed has remained virtually unchanged – 6.1 million people.
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