The Bureau of Labor Statistics’ new jobs report was a bit of a surprise for some with 467,000 jobs added to the U.S. economy even with the omicron surge in full force.
📈 Over the past 3 months, we’ve added an average of 541,000+ jobs to the economy. These steady and consistent gains show that we’re moving toward a worker-centered recovery even as we continue to battle the pandemic. More from @SecMartyWalsh: https://t.co/9lDj6lqd8Q pic.twitter.com/HTbUa0A68O
— U.S. Department of Labor (@USDOL) February 4, 2022
From the Washington Post:
The unemployment rate ticked up slightly to 4 percent, from 3.9 percent the month before because more people were looking for work, another positive trend.
Analysts surveyed by Dow Jones predicted an average of about 150,000 jobs added for the month, in what would be the lowest number added in a year. Many economists predicted job losses, some of up to 400,000.
Over the past 12 months, the U.S. has added nearly 7 million jobs as workers have found ample openings in an economy still recovering from the pandemic’s first days.
A Bloomberg survey of experts said they expected something along the lines of 150K new jobs added to the economy. But ADP, which handles payroll services for huge companies, projected a 301K job LOSS. Big miss on the ‘experts’ part.
The numbers for the prior two months were revised up as well.
Originally, the Labor Department reported 199K new jobs in December, but has now revised that to 510K jobs added in December. November’s estimate of 249K has been revised to 647K.
Read the full article here.
The folks over at Fox News were practically giddy over the prospect of a bad jobs report. Watch below.
Up until just *seconds* before the release of the January jobs report, Fox News was giddy with anticipation of massive job loss… pic.twitter.com/kH5dZOQYF4
— Craig Harrington (@Craigipedia) February 4, 2022
— Tommy moderna-vaX-Topher (@tommyxtopher) February 4, 2022
The big takeaway from the jobs report = The US jobs market is even stronger than we thought.
— Heather Long (@byHeatherLong) February 4, 2022