Newsflash

January Jobs Report: 225K jobs created; unemployment ticks up as labor participation increased

02/07/2020 Ms. G Economy 0

Nonfarm payrolls surged 225,000 for the month, well above Wall Street estimates for a 158,000 gain.
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.
Average hourly earnings rose 3.1% over a year ago to $28.44, ahead of estimates for 3% growth.

The employment-to-population ratio in the household survey rose to 61.2%, its highest since November 2008 and 0.5 percentage points higher than a year ago.

Ahead of this morning’s jobs report, it’s worth mentioning the administration’s false claim that black unemployment is at an all-time low. It has climbed to 5.9% from 5.4% in August
— West Wing Report (Edited by Paul Brandus) (@WestWingReport) February 7, 2020