BREAKING: U.S. employers added a burst of 467,000 jobs in January despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses short-staffed. The strong hiring gain was unexpected.
The Labor Department’s report Friday also showed the unemployment rate ticked up from 3.9% to 4%. Estimated job growth for December was also revised much higher, from 199,000 to 510,000.
The overall outlook for the job market remains bright, with openings near a record high, the pace of layoffs down and the unemployment rate having already reached a healthy level. The nation gained more jobs last year, adjusted for the size of the workforce, than in any year since 1978. The unemployment rate fell by nearly 3 percentage points — from 6.7% to 3.9% — the sharpest yearly decline on records.
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