Economy beats expectations with 225,000 jobs in January, unemployment 3.6%
by Jay Heflin
| February 07, 2020 08:30 AM
Employers created more jobs in January than economists expected, with 225,000 workers added to payrolls, the Bureau of Labor Statistics reported, while unemployment ticked up to a still-very-low 3.6%.
Friday's strong jobs report, which easily exceeded forecasters' expectations for about 160,000 new jobs, indicates that the economic recovery is still in robust health as it approaches an eleventh year, a development that promises to boost President Trump's chances for reelection.
"The first month of the year saw hiring surge above expectations despite the challenges of what’s broadly viewed as a tight job market," commented Mark Hamrick, senior economic analyst for Bankrate.com.
The unemployment rate rose, by a tenth of a percentage point, for the "right" reason, namely that more people entered the workforce in the month: The labor force participation rate rose from 63.2% to 63.4%, the highest such rate since the spring of 2013.
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https://www.washingtonexaminer.com/news/economy-beats-expectations-with-225-000-jobs-in-january-unemployment-3-6
