US created 200000 new jobs in January

03 February, 2018, 14:53 | Author: Teresa Adams
  • US Jobs Report: NFPs +200000, Wages Rise Most Since 2009

A worker assembles chainsaw components at the Stihl Inc. manufacturing facility in Virginia Beach, Va., on January 11. Beating expectations, January saw 200,000 jobs created, while the headline unemployment rate sits at 4.1%, the lowest since December 2000.

That's exactly what we warned would happen 13 months ago - as more people entered the job market because they were encouraged by the economy, that top-level unemployment number would paradoxically increase.

USA job creation accelerated in January, as the labour market continued to absorb workers at a robust pace, unemployment clung to a record low and wages moved higher, the government said in a key report Friday. Employment in manufacturing remained on an upward track in January, with 15,000 jobs added; manufacturing has added 186,000 jobs over the past 12 months.

#GoRedForWomen to raise awareness about heart disease
For women, it's more likely to be shortness of breath, nausea and/or vomiting, and back or jaw pain. They'll get up to 25-percent discount on a selection of items in the store, said Torres.

Perhaps the most notable development in the report was the increase in hourly wage growth. "However, given our specialization in emerging cities our task has become very challenging with unemployment rates being so low and the increased retirements of the baby boomers".

The robust employment report underscored the strong momentum in the economy at the start of the year. That much is still true today - a year into Trump's presidency. January's anticipated jobs gains were above the monthly average of 192,000 over the past 3 months. Yes, they raise wages, but Patrick said "they are having to provide more training, more development for their people, better engagement with their employees".

"Given that there is roughly one worker per job opening in the economy, the narrative inside the labor market is rapidly shifting from that of triumph to that of concern amongst firms of all sizes over how to fill positions among labor scarcity".

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Importantly, hourly earnings of private sector workers picked up a solid 0.3 percent in January, after a strong 0.4-percent uptick in December, pushing wage growth to 2.9 percent, year-over-year (y/y) - the fastest pace since June 2009! Wall Street economists had expected an increase of about 180,000, according to Bloomberg. Wages are expected to increase as Wallmart raises hourly wages for its entry-level employees in the US. It raised borrowing costs 3X in Y 2017.

Fed officials Wednesday expressed optimism that inflation will rise toward its target this year.

The bureau also announced that the total nonfarm payroll employment for November was being revised down from +252,000 to +216,000, while the change for December was revised up from +148,000 to +160,000. But the data show the economy added 2.17 million jobs in 2017, fewer than 2016 when there were 2.34 million and below the 2.5 million needed to stay on track towards Trump's goal.

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The rise in employment was driven by the construction industry, restaurants, health care and manufacturing, all sectors that added jobs last month. That's in line with the resurgence in factory activity and rebound in housing. And if there's only one or two employers with your kind of job in your area then wages really get stuck.

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