KEY POINTS:
- The U.S. economy added 225,000 jobs in January as the unemployment rate ticked up slightly to 3.6 percent.
- The largest job gains were experienced in the construction (+44,000 jobs), health care (+36,000 jobs), and transportation and warehousing (+28,000 jobs).
- Since December 2016, the U.S. economy has added a total of 6.7 million jobs.
ECONOMIST CORNER:
Today’s job’s report showed continued momentum in the U.S. labor market in January, as the economy added 225,000 jobs to begin 2020. This strength, combined with the duration of the expansion, is a positive indicator for the economy as a whole. This month’s job report also included benchmark revisions, which had the effect of lowering the level of job gains. These changes, however, do not alter the overall strength in the labor market.