WASHINGTON — In a surprising burst of hiring, American’s employers added 467,000 jobs in January in a sign of the economy’s resilience even in the face of...
The nation gained more jobs last year, adjusted for the size of the workforce, than in any year since 1978.
The strong hiring growth for January, which defied expectations for only a slight gain, demonstrates the eagerness of many employers to hire even as the pandemic raged. Businesses appear to have seen the omicron wave as having, at most, a temporary impact on the economy and remain confident about longer-term growth.
Stock futures dipped immediately on the expectation that the Fed could speed up its efforts to tighten credit, which would potentially weaken the economy, before partly recovering by mid-morning. The overall outlook for the job market remains bright, with openings near a record high, the pace of layoffs down and the unemployment rate having already reached a healthy level. The nation gained more jobs last year, adjusted for the size of the workforce, than in any year since 1978. The unemployment rate fell by nearly 3 percentage points — from 6.7% to 3.9% — the sharpest yearly decline on records.
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US economy defies omicron and adds 467,000 jobs in JanuaryIn a surprising burst of hiring, America’s employers added 467,000 jobs in January in a sign of the economy’s resilience even in the face of a wave of omicron infections last month.
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