The United States economy continued to roar to life in 2020 with latest reports showing more than 225,000 jobs added and a 3.1% bump in average hourly wages since the same period last year.
“The unemployment rate ticked higher to 3.6%, but for the right reason as the labor force participation rate increased 0.2 percentage points to 63.4%, matching its highest level since June 2013, according to data released Friday by the Labor Department,” reports CNBC.
Breaking: Employers added 225,000 jobs in January and the jobless rate was 3.6%, signs the U.S. labor market is positioned to fuel economic growth in 2020 https://t.co/hGUqpe5NDG
— The Wall Street Journal (@WSJ) February 7, 2020
EMPLOYMENT WATCH: U.S. creates 225,000 new jobs in January. Way above 164,000 MarketWatch forecast. Unemployment rises to 3.6% from a 50-year low of 3.5%. Wages climb at 3.1% yearly rate in January. Very good report. Strong U.S. labor remains market resilient.
— MarketWatch Economy (@MKTWeconomics) February 7, 2020
“Economists surveyed by Dow Jones were looking for payroll growth of 158,000 and the jobless rate to stay at 3.5%, its lowest in more than 50 years,” adds the website.
Read the full report here.