January Jobs Report Release
Mary Margaret Olohan on February 7, 2020
The U.S. economy added 225,000 jobs in January, while the unemployment rate rose slightly to 3.6%, according to Department of Labor data released Friday.
225,000 jobs were added in January, according to the Bureau of Labor Statistics report — about 80,000 more jobs than were added in December.
January’s unemployment rate rose slightly to 3.6% from December’s 3.5%, which matched September’s lowest unemployment rate since December 1969.
Economists had predicted that 163,000 jobs jobs would be added and that the unemployment rate would remain at 3.5%, according to Bloomberg.
The unemployment rate has held steady between 4% and 3.7% for more than a year before the April jobs report showed it drop to 3.6%. Prior to April’s report, the consistent unemployment rate suggested that workers are jumping back into the workforce to fill open jobs, rather than the workers who are currently collecting unemployment welfare, according to The Wall Street Journal.
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