News

More jobs in January, but unemployment jumps a bit

February 4, 2019

The government shutdown, so far at least, isn't having a big impact on the U.S. workforce as 304,000 jobs were added last month.

The job additions represent the hundredth consecutive month of payroll growth, according to a New York Times report. Yet unemployment rose from 3.9 percent in December to 4.0 percent in January.

The jobs addition easily beat projections by economists, as they expected a gain of 172,000 jobs.

"This jobs report is showing no evidence of an economy slowing, certainly not falling into recession," Michelle Meyer, chief United States economist for Bank of America Merrill Lynch, told the Times. "It's still a tight labor market. Employers are still actively looking for jobs, and with wages ticking up, it looks like workers are getting some more bargaining power."