US nonfarm payroll employment far exceeded expectations, with an increase of 353,000 in January, according to data from the US Bureau of Labor Statistics published today (2 February).
The figure not only demonstrated continuous employment growth, following on from 333,000 jobs added in December, but came in nearly twice as high as the 180,000 forecast. Professional and businesses services added the most jobs, with 74,000 throughout the month, followed by healthcare with 70,0000 and retail trade with 45,000. Federal Reserve holds rates steady as Jerome Powell dampens March cut hopes The unemployment rate remained steady at 3.7% for the third month in a row, with the number of unemployed people unchanged at 6.1 million. Richard Flynn, managing director at Charl...
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