The U.S. jobs market grew at a better-than-expected rate in January, thanks to unseasonably warm weather, beating Wall Street expectations by skleb1234
The strong jobs report in January comes amid other solid economic data: Earlier this week, a report from ADP and Moody’s Analytics said that U.S. private payrolls rose by 291,000 last month—almost twice the expected number and theThe strong January jobs report indicates that the economy can likely continue its moderate expansion, despite weak manufacturing data and a slowdown in business investment.
“Putting the labor report in context is important,” says Ron Temple, head of U.S. equity at Lazard Asset Management. “It only takes about 90,000 jobs per month to keep unemployment constant relative to population growth. In the last three months, the US created over 200,000 jobs per month with unemployment near 50-year lows. Fortunately, the Fed has realized that doing nothing is the best action plan to allow this positive story to continue.
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