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Non-Farm Payrolls: the number of jobs in the United States in January increased significantly stronger than forecast


February, 02 2024
watermark Economic news

In January of this year, the US economy showed positive trends in employment, according to the country's Ministry of Labor. 


The number of jobs increased by 353 thousand, which turned out to be higher than experts' expectations. The consensus forecast assumed an increase of 180 thousand.


It is also worth noting that the revised data for December showed an increase in the number of jobs by 333 thousand, which turned out to be significantly higher than the previous estimate of 216 thousand.


Unemployment in the country remained at 3.7% in January, falling short of the expected level of 3.8%.


Sector details show an increase in the private sector by 317 thousand jobs and in the public sector by 36 thousand.


Separately, it is worth highlighting the growth in the field of professional and business services (74 thousand jobs), healthcare (70 thousand), retail (45 thousand), social security (30 thousand), and the industrial sector (23 thousand).


The average hourly wage in the private sector also showed an increase, increasing by 0.6% compared to the previous month and by 4.5% y/y This growth was higher than analysts' expectations.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.