US job market “on fire” in January

04 February 2022

 

Summary: Non-farm payrolls increase by 467,000 in January; considerably more than 180,000 expected; previous two months’ figures revised up by 111K; jobless rate down ticks up to 4.0%, participation rate up from 61.9% to 62.2%; may have been even stronger if not for Omicron surge; implies another strong number in February, US job market as “on fire”; jobs-to-population ratio increases to 59.7%; underutilisation rate falls from 7.3% to 7.1%; annual...

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