U.S. Job Growth Doubles Expectations in January, Showing Resilient Labor Market
• U.S. added 353,000 jobs in January, double expectations, showing labor market and economy remain strong • Unemployment rate steady at 3.7%; job growth spread across industries less sensitive to interest rates • Wage growth accelerated to 0.6% in January and 4.5% over past year, outpacing inflation • Layoffs rose in tech and some other industries but remain below pre-pandemic levels overall • Public sector jobs rebounded with better pay and benefits attracting workers, easing shortages