Employers added a booming 517,000 jobs in January as hiring unexpectedly surged despite high inflation, rising interest rates and the prospect of a weakening economy.
President Biden's second State of the Union will likely cover economy and police reform
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 and bolster its plan to pause its aggressive interest rate hike campaign in coming months. Yet the labor market was buffeted by various crosscurrents last month, including winter storms and flooding as well as the aftermath of a strike and challenges Labor faced in its survey of employers, Goldman Sachs said. As a result, the January jobs total likely doesn't reflect the course of hiring in the months ahead, economists said.Broadly, employment growth is expected to pull back substantially in 2023 after the U.S. added 4.5 million jobs last year, second most behind the 6.
At Creative Noggin, a San Antonio-based marketing agency, revenue leaped 33% last year and the firm added four employees to a staff of 11, says CEO Tracy Marlowe. Now, with her firm’s revenue projected to increase another 15% to 20% this year, Marlowe is seeking a financial manager and copywriter and will likely bring on others, she says. She’s also taking advantage of a bigger labor pool, noting she’s been getting about 25 applications a day for the financial manager role compared to a trickle for postings in 2021 and early 2022.
Also, COVID’s Omicron variant reduced payrolls a year ago but wasn’t a factor last month, juicing January’s employment total after seasonal adjustments, Goldman Sach said in a research note.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
U.S. likely added 187,000 jobs in January, but watch out for this wild cardThe creation of new U.S. jobs likely slowed in January for the sixth month in a row, but a historically tight labor market has shown lots of resilience
Leer más »
US added a strong 517,000 jobs in January despite Fed hikesU.S. employers added a robust 517,000 jobs in January in a sign of a still-strong labor market despite Fed rate hikes.
Leer más »
Bitcoin Falls After 517K Jobs Added in January, Beating ExpectationsThe U.S. added 517,000 jobs in January massively beating economist forecasts of 185,000, leading to a fall in bitcoin prices. By SteveAlpher.
Leer más »
The US economy added a whopper 517,000 jobs in JanuaryThe US job market is expected to have remained strong in January, adding 185,000 jobs. That's about on par with America's average monthly job growth over the past decade, but it would represent a slowdown from the strong post-pandemic gains of the past couple years.
Leer más »
The U.S added 517,000 jobs in January, much better than 187,000 expectedJUST IN: U.S added 517,000 jobs in January, much better than the 187,000 expected; unemployment rate falls to 3.4%, lowest level since 1969.
Leer más »