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517,000 jobs added in January, unemployment rate at 3.4%

517,000 jobs added in January, unemployment rate at 3.4%

admin by admin
February 7, 2023
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Total nonfarm payroll employment increased by 517,000 in January, according to the Bureau of Labor Statistics. The jobless total dipped slightly to 5.7 million in January, and the jobless rate dipped slightly to 3.4%.

Job growth was notable in leisure and hospitality, healthcare and health services.

In January, leisure and hospitality added 128,000 jobs compared to an average of 89,000 jobs per month in 2022. Employment in leisure and hospitality remains below its pre-pandemic level in February 2020 at 495,000, or 2.9%.

Employment in professional and business services increased in December (82,000). Within industry, professional, scientific and technical services generated 41,000 jobs, while business support services generated 7,000 jobs. Monthly job growth in professional and business services has averaged 47,000 in 2022.

In January, healthcare employment increased by 55,000, with increases in ambulatory health care services (+30,000) and nursing and residential care facilities (+17,000) and hospitals (+11,000 ). Health care job growth averaged 497,000 per month in 2022.

read the BLS release.

Tags: AddedJanuaryjobsrateUnemployment
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