US nonfarm payrolls double forecast with 130K jobs added
US employers added 130,000 jobs in January, significantly exceeding forecasts and showing labor market resilience.Summary
US employers added 130,000 nonfarm jobs in January, nearly doubling the 65,000 consensus forecast, indicating unexpected strength in the labor market. The unemployment rate also fell to 4.3% from the anticipated 4.4%. Major gains were seen in healthcare (82,000) and social assistance (42,000), although federal government payrolls declined by 34,000. Private-sector hiring was robust at 172,000, compared to the 68,000 projected. These strong figures are closely watched by the Federal Reserve for inflation assessment and interest rate policy, potentially complicating discussions about rate cuts. However, revisions showed that job growth in November and December was slightly weaker than previously reported, with a combined downward adjustment of 17,000 jobs.
(Source：Crypto Briefing)