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Total nonfarm payroll employment rose by 353,000 in January, and the unemployment rate remained at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, retail trade, and social assistance. Employment declined in the mining, quarrying, and oil and gas extraction industry. This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more …
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Economy started 2024 strong with 353,000 jobs in January
The economy again beat expectations in January and added 353,000 jobs, the Bureau of Labor Statistics reported Friday morning, showing that the labor market started 2024 on strong footing after defying fears of a recession throughout 2023. The unemployment rate stayed the same at 3.7%. Notably, the unemployment rate remains low by historical standards. The continued employment growth is good news for the White House, which has been working to credit President Joe Biden for the strong job creation over recent months, characterizing the underlying strength of the labor market and broader economy as “Bidenomics” in .
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