Skip to comments.US adds stunning 517K jobs to start 2023
Posted on 02/03/2023 7:29:09 AM PST by ChicagoConservative27
The U.S. labor market clocked a shockingly strong month in January, adding 517,000 jobs and dipping down to 3.4 percent unemployment, according to data released Friday by the Labor Department.
The numbers blew past expectations. Analysts were projecting an increase of around 185,000 jobs and for the unemployment rate to edge up to 3.6 percent. In December, the unemployment rate dipped back down to 3.5 percent and added 260,000 new jobs, according to revised figures released Friday.
“This is an unbelievably strong unemployment report, not to suggest there’s a problem with credibility. The unemployment rate takes out the recent historic low going down to 3.4 percent while payrolls were a blowout topping 500,000 jobs. An additional 71,000 jobs are added with the revisions for the previous two months,” Bankrate analyst Mark Hamrick wrote in a statement.
“The stronger than expected employment report stands in direct conflict with fears of an imminent recession, which has been weighing on the minds of economists and business leaders alike,” he added.
(Excerpt) Read more at thehill.com ...
How does this jive with all of the tech layoffs in the thousands?
In fact, the DXY is up 0.79% today. https://www.cnbc.com/quotes/.DXY
Labor participation rate is the lowest it has ever been, there are literally Help Wanted signs in every business, yep it’s booming...
It will probably be “revised” after the State of the Union speech.
If you dig you will likely find ‘they moved the goalposts’ at the turn of the year into 2023.
Rules are constantly manipulated by the party in power to ‘produce the results’ they want.
How many are part time with no benefits?
Exactly...this is so the Pervert can announce it at SOTU
Truth is not a value of the Left ... and The Hill is just another Democrat/Communist Party promotion sheet.
And since the media regurgitation units don't really understand how stuff works outside the classroom, it all gets dutifully reported as crafted.
Our government data has been suspect under the Biden communist regime.
I think the report is pure BS. BUT The Feds have been spending like drunken sailors (I am a Marine combat vet) so maybe this is a return on “investment.”
It is just “island reporting”.
What are you looking at? Markets look flat to slightly positive.
Total BS from the rat infested BLS.
My bad. Earlier at about 9 AM central (10 AM NYSE time) the S&P 500 was down close to 1%.
Fake manipulated numbers as always. And the Hill is so giddy to report them. They were probably given advanced notice.
....at first I thought this was yet another offering from the Babylon Bee, but then.....this PoS president and his corrupt administration deserve nothing less than our contempt....
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