Payrolls Increased by 517,000 in January

Payrolls Increased by 517,000 , in January.

CNN reports that new data was released by the Bureau of Labor Statistics on Feb.

3.

517,000 jobs were added in the U.S. last month despite economists only expecting 185,000.

The unemployment rate dropped to 3.4%.

CNN reports that the unemployment rate hasn't been that low since Neil Armstrong walked on the moon.

CNN reports that the unemployment rate hasn't been that low since Neil Armstrong walked on the moon.

With 517,000 new jobs added in January 2023 and the unemployment rate at 3.4%, this is a blockbuster report demonstrating that the labor market is more like a bullet train, Becky Frankiewicz, president and chief commercial officer of ManpowerGroup, via CNN.

Seema Shah, chief global strategist of Principal Asset Management, says the jobs report may complicate the Federal Reserve's attempts to cool inflation.

This is a labor market on heat; nobody would have expected a number as monstrous as this, Seema Shah, chief global strategist of Principal Asset Management, via CNN.

Is [Fed Chair Jerome] Powell now wondering why he didn’t push back on the loosening in financial conditions?

, Seema Shah, chief global strategist of Principal Asset Management, via CNN.

It’s difficult to see how wage pressures can possibly soften sufficiently when jobs growth is as strong as this, and it’s even more difficult to see the Fed stop raising rates and entertain ideas of rate cuts when there is such explosive economic news coming in, Seema Shah, chief global strategist of Principal Asset Management, via CNN