US economy beats estimates, adds 225,000 jobs in January as wages grow
The US labor market entered 2020 on a stronger-than-expected note, adding jobs for a record 112th month.
The Bureau of Labor Statistics said Friday 225,000 nonfarm payrolls were created in January, compared with economist forecasts for 165,000. The unemployment rate edged higher to 3.6%. The BLS also made major revisions to data for 2018 and 2019, offering a more accurate picture of the labor market. A preliminary estimate of those revisions in August showed two million jobs were added in the year through March 2019, a half a million fewer jobs than previously thought.
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