Despite Covid-19 raging across the country, the U.S. outpaced expectations to create more jobs in January.
The U.S. Labor Department showed nonfarm payrolls increased by 467,000 jobs last month. December data was also revised higher to show 510,000 jobs created instead of the previously reported 199,000.
Economists polled by Reuters had forecast only 150,000 jobs would be added in January. Estimates ranged from a decrease of 400,000 to a gain of 385,000 jobs.
Both the unemployment rate, at 4%, and the number of unemployed people, at 6.5 million, changed little, however. The government introduced new population assumptions, making January’s jobless rate and other ratios from the household surveys
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