According to Bloomberg:
Employers in the U.S. added more jobs than forecast in January, capping the biggest three-month gain in 17 years, and workers’ earnings jumped. The 257,000 advance in payrolls last month followed a 329,000 gain in December that was bigger than previously reported, figures from the Labor Department showed Friday in Washington. The median forecast in a Bloomberg survey of economists called for a 228,000 increase. But the unemployment rate climbed to 5.7 percent as the improving job market lured more Americans into the labor force.
Nevertheless, economic growth was only 2.6 percent last quarter and may not be much better during the current quarter, so it’s unclear whether the pace of job creation can be maintained.
Other data point to continuing struggles in the labor market.
The labor force participation rates remain at historic lows. And the U-6 rate, which includes the unemployed, underemployed and those who are not looking but who want a job, remains at about 11 percent.
But the report today is good news for those who are seeking a job.