US job growth soars past expectations with 467,000 added, shaking off omicron surge

FoxBusiness.com ^ | 2/4/2022 | Megan Henney

[mykroar]

U.S. job growth blew past expectations in January, brushing off a record-breaking surge in COVID-19 cases nationwide that loomed over the economy as it threatened to sideline millions of workers.

The Labor Department said in its monthly payroll report released Friday that payrolls in January rose by 467,000, easily topping the 150,000 jobs gain forecast by Refinitiv economists. The unemployment rate, which is calculated based on a separate survey, ticked up slightly to 4%.

This is a developing story. Please check back for updates.

[mykroar]

video at link explains it's mostly it's the Republican states that have essentially completed recovered. But still not sure I believe the numbers.

[PeterPrinciple]

The unemployment rate, which is calculated based on a separate survey, ticked up slightly to 4%.

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Also in the article.

[PghBaldy]

So days of articles saying the White House was concerned by the bad upcoming jobs report today, then they outperform the lowered expectations...

[babble-on]

People are running out of their bonus unemployment and stimmy money, and having to “get a job” (sha na na na).

[logi_cal869]

[skeeter]

No amount of contorting the news by the media will affect Biden’s p*ss poor popularity polls as long as prices keep shooting up.

[Solson]

ADP shows tepid jobs. Goldman expected -250k. Market consensus was +125k. And then BLS comes out with +475K and MASSIVE revisions to November and December! Of course the note on “adjustments” was everything. Remove the adjustments and you have -125K.

[maddog55]

When you low ball expectations anything above them is considered good.

The whole Biden administration’s expectations are below curb level low.

[Sacajaweau]

Agree...Unemployment went up, too???

[struggle]

>Agree...Unemployment went up, too???

People returning to the labor pool

[God luvs America]

Exactly- the only reason the unemployment rate went down despite crappy jobs reports the past six months was due to the fact the job participation rate also dropped.

[Night Hides Not]

My favorite Mark Twain quote is "the coldest winter I ever spent was a summer in San Francisco." I grew up in the Bay Area, and it's pretty close to reality.

My dad took me to many Giants games at Candlestick. One evening, Sandy Koufax was pitching for the Dodgers. Giants hitters never had a chance once the fog started rolling in over the left field fence.

[teevolt]

Every year the Jan BLS report is a piss poor indicator. It’s loaded with adjustments due to the temp Christmas jobs going away.

[libertylover]

So days of articles saying the White House was concerned by the bad upcoming jobs report today, then they outperform the lowered expectations...

I noticed that too.

[1Old Pro]

So days of articles saying the White House was concerned by the bad upcoming jobs report today, then they outperform the lowered expectations...

Stasi propaganda would be impressed.

[FlingWingFlyer]

Somebody been smokin’ da happy smoke.

[cowboyusa]

Oil at 92 dollars a barrell.

[CAluvdubya]

It will be adjusted down during the middle of the week when no one is paying attention.

[Vermont Lt]

And they adjusted the numbers for December and November.

The Ministry of Truth never lies. That would be a contradiction, wouldn’t it?

[freedomispriceless]

Psaki’s 9 million people who called out sick must have gone back to work /s