United States: huge job creations in January!

(Boursier.com) — Today’s government report on the American employment situation for the month of January 2024 revealed 353,000 non-agricultural job creations, twice as many as expected! The unemployment rate remains at around 3.7%. The average hourly wage is growing twice as fast as expected, up 0.6% compared to the previous month. The FactSet consensus was for 176,500 non-agricultural job creations and 148,000 in the private sector. The unemployment rate was expected at 3.8%. The average hourly wage was expected to increase by 0.3% month-on-month and 4.1% year-on-year.

The change in total non-agricultural payroll employment for November was also revised upwards by 9,000, from +173,000 to +182,000, and the change for December was revised upwards by 117,000, from + 216,000 to +333,000. With these revisions, employment in November and December combined is 126,000 positions higher than previously reported.