U.S. employers stepped up hiring in January, adding 467,000 jobs despite a wave of Omicron infections that sickened millions of workers.
U.S. employers added a burst of 467,000 jobs in January despite a wave of Omicron infections that sickened millions of workers, kept many consumers at home and left businesses short-staffed.
The strong hiring gain, which was unexpected, demonstrates the eagerness of many employers to hire even as the pandemic maintains its grip on the economy. Businesses appear to have seen the Omicron wave as having, at most, a temporary effect on the economy and remain confident about longer-term growth.
Even so, the economy’s strong growth and hiring gains last year were accompanied by the highest inflation in four decades, magnified by brisk consumer spending on furniture, electronics, appliances and other goods and vast infusions of federal aid that have now largely expired. Omicron infections are probably slowing the economy in the January-March quarter, particularly compared with the rapid expansion in the final three months of 2021, when the economy grew at a robust 6.9% annual rate. Some analysts have forecast that growth will weaken to an annual rate as low as 1% in the first three months of this year.
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US employers shrug off omicron, add 467,000 jobs in JanuaryThe Labor Department’s report Friday also showed the unemployment rate ticked up from 3.9% to 4%.
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U.S. employers shrug off Omicron, add 467,000 jobs in JanuaryThe burst of jobs came despite a wave of Omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed.
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US employers shrug off omicron, add 467,000 jobs in JanuaryU.S. employers stepped up hiring in January, adding 467,000 jobs despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed
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