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New government data shows a surprisingly strong job market for January. Yet, tens of thousands of workers still found themselves out of work.
"Job creation heated up in January, perhaps causing some Federal Reserve officials to break out in a sweat."
U.S. employers hired far more workers than expected in January, a staggering flex of economic strength that refutes worries of a recession but could delay highly-anticipated interest rate cuts. The economy added 353,000 jobs last month while the unemployment rate held steady at 3.7%, a historically low figure, according to data released by the U.S. Bureau of Labor Statistics on Friday. "So much for imminent recession fears," Mark Hamrick, senior economic analyst at Bankrate, told ABC News in a statement.
New government data shows a surprisingly strong job market for January. Yet, tens of thousands of workers still found themselves out of work.
The first jobs report of 2024 is in, and economists say the numbers show the economy is booming and could foreshadow good news for interest rates.