Breaking News
Feb 2, 2024
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Total non-farm payroll employment increased to 353,000 in January, the U.S. Bureau of Labor Statistics reported on Friday.
The jobless rate remained at 3.7% in January, and the number of unemployed people was little changed at 6.1 million.
The labor force participation rate, at 62.5%, was unchanged in January, and the employment-population ratio, at 60.2%, was little changed.
Professional business services added 74,000 jobs, followed by gains in healthcare by 70,000, retail trade by 45,000, and social assistance by 30,000.
On the other hand, the mining, quarrying, and oil and gas extraction industries lost 5,000 jobs.
Net job gains in December were upwardly revised by 117,000 to 333,000 and in November by 9,000 to 183,00.
In January, average hourly earnings for all employees on a private nonfarm payrolls rose by 19 cents, or 0.6%, to $34.55.
Over the past 12 months, average hourly earnings have increased by 4.5%, suggesting tight labor market conditions are likely to persist.
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