- Oct 17, 2011
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Job growth posted a surprisingly strong increase in January, demonstrating again that the U.S. labor market is solid and poised to support broader economic growth.
Nonfarm payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department’s Bureau of Labor Statistics reported Friday. The unemployment rate held at 3.7%, against the estimate for 3.8%.
The report also indicated that December’s job gains were much better than originally reported. The month posted a gain of 333,000, which was an upward revision of 117,000 from the initial estimate. November also was revised up, to 182,000, or 9,000 higher than the last estimate.
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The U.S. economy grew by a bustling 3.1 percent in 2023, shaking off recession fears and offering an upbeat picture of consumers and businesses ahead of a pivotal election year.
Gross domestic product grew even faster than many had anticipated in the last three months of the year — by an annual rate of 3.3 percent, according to the Bureau of Economic Analysis — offering fresh evidence that federal policymakers have managed to bring down inflation and secure a “soft landing” without major repercussions for workers or the economy.
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Nonfarm payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department’s Bureau of Labor Statistics reported Friday. The unemployment rate held at 3.7%, against the estimate for 3.8%.
The report also indicated that December’s job gains were much better than originally reported. The month posted a gain of 333,000, which was an upward revision of 117,000 from the initial estimate. November also was revised up, to 182,000, or 9,000 higher than the last estimate.
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The U.S. economy grew by a bustling 3.1 percent in 2023, shaking off recession fears and offering an upbeat picture of consumers and businesses ahead of a pivotal election year.
Gross domestic product grew even faster than many had anticipated in the last three months of the year — by an annual rate of 3.3 percent, according to the Bureau of Economic Analysis — offering fresh evidence that federal policymakers have managed to bring down inflation and secure a “soft landing” without major repercussions for workers or the economy.
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see also
The Triumph of Bidenomics!
The supposedly-left-wing media seems to be doing a great job of discussing Biden's age, but not such a great job covering the stunning success of Bidenomics. Here are some numbers grudgingly reported by the right-wing media. Inflation is receding and even reversing...
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