Monthly Jobs Report

More important- WAGES grew faster than inflation.


U.S. economy added 353,000 jobs in January, much better than expected

Source: CNBC

PUBLISHED FRI, FEB 2 2024 8:30 AM EST UPDATED 22 MIN AGO


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%.

Wage growth also showed strength, as average hourly earnings increased 0.6%, double the monthly estimate. On a year-over-year basis, wages jumped 4.5%, well above the 4.1% forecast. The wage gains came amid a decline in average hours worked, down to 34.1, or 0.2 hour lower for the month.

Job growth was widespread on the month, led by professional and business services with 74,000. Other significant contributors included health care (70,000), retail trade (45,000), government (36,000), social assistance (30,000) and manufacturing (23,000).

Read more: ttps://www.cnbc.com/2024/02/02/us-economy-added-353000-jobs-in-january-much-better-than-expected.html
 
December Payrolls Unexpectedly Surge As Wages Jump, Unemployment Remains Low

December the US added a whopping 216K jobs, smashing estimates of 175K and coming above all but two of the 67 Wall Street estimates that make up the Bloomberg survey.
Click to expand...

Yeah, but...

That said, we are comfortable with predicting that next month today's print will be revised sharply lower (perhaps even below 175K, meaning today was a miss). Why do we say that? Because once again the BLS revised not just one but both previous months sharply lower:

October revised down 45K from 150K to 105K

November revised down 26K from 199K to 173K

This means that ten of the past 11 jobs reports have been revised substantially lower.
Click to expand...

December Payrolls Unexpectedly Surge As Wages Jump, Unemployment Remains Low | ZeroHedge
 
More from jobs report:

Full-time workers plunge 1.5 million in one month to lowest since February 2023

Part-time workers soar 762K to the highest on record

Multiple jobholders hit all time-high 8.565MM
 
U.S. payrolls increased by 216,000 in December, much better than expected

December’s jobs report showed employers added 216,000 jobs for the month while the unemployment rate held at 3.7%. That compared with respective estimates of 170,000 and 3.8%.

The hiring boost came from a gain of 52,000 in government jobs and another 38,000 in health care-related fields such as ambulatory health-care services and hospitals.

Average hourly earnings rose 0.4% on the month and were up 4.1% from a year ago, both higher than the respective estimates for 0.3% and 3.9%.
Click to expand...

Jobs report December 2023: Payrolls increased by 216,000 in December
 
U.S. payrolls rose 199,000 in November, unemployment rate falls to 3.7%

Nonfarm payrolls rose by a seasonally adjusted 199,000 in November, slightly better than the 190,000 Dow Jones estimate and ahead of the October gain of 150,000.

The unemployment rate declined to 3.7%, compared with the forecast for 3.9%, as the labor force participation rate edged higher.

Health care was the biggest growth industry, adding 77,000. Other big gainers included government (49,000), manufacturing (28,000), and leisure and hospitality (40,000).
Click to expand...

Jobs report November 2023: U.S. payrolls rose 199,000 unemployment rate falls to 3.7%
 
U.S. payrolls increased by 150,000 in October, less than expected

Nonfarm payrolls increased by 150,000 for the month, against the consensus forecast for an increase of 170,000. That was a sharp decline from the gain of 297,000 in September.

The unemployment rate rose to 3.9%, the highest level since January 2022, amid a sharp decline in household employment.

From a sector standpoint, health care led with 58,000 new jobs. Other leading gainers included government (51,000), construction (23,000) and social assistance (19,000).

Manufacturing posted a decline, mostly due to the auto strikes.
Click to expand...

https://www.cnbc.com/2023/11/03/job...-by-150000-in-october-less-than-expected.html
 
Payrolls soared by 336,000 in September, defying expectations for a hiring slowdown

Nonfarm payrolls increased by 336,000 for the month, better than the Dow Jones consensus estimate for 170,000.

Average hourly earnings rose 0.2% for the month and 4.2% from a year ago, compared to respective estimates for 0.3% and 4.3%.

The unemployment rate was 3.8%, compared to the forecast for 3.7%.

Leisure and hospitality led job growth, followed by government and health care.
Click to expand...

https://www.cnbc.com/2023/10/06/jobs-report-september-2023.html
 
Sorry, I know James already posted this, but I like to keep a copy of these all in one thread for future refence

---------------------

Unemployment rate unexpectedly rose to 3.8% in August as payrolls increased by 187,000

Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the Dow Jones estimate for 170,000, the U.S. Bureau of Labor Statistics reported Friday.

However, the unemployment rate was 3.8%, up significantly from July and the highest since February 2022, and estimates for previous months showed sharp downward revision.
Click to expand...

https://www.cnbc.com/2023/09/01/jobs-report-august-2023.html
 
Payrolls rose by 209,000 in June, less than expected, as jobs growth wobbles

Nonfarm payrolls increased 209,000 in June, below the consensus estimate for 240,000.

The unemployment rate was 3.6%, down 0.1 percentage point. However, a more encompassing jobless level rose to 6.9%.

Government hiring led the job gains, followed by health care, social assistance and construction.

Wages rose 4.4% from a year ago, slightly higher than expectations.
Click to expand...

https://www.cnbc.com/2023/07/07/jobs-report-june-2023-.html


So who do we trust? Someone is doing a bad job.
There had been some anticipation that the Labor Department report could show a much higher than anticipated number after payrolls processing firm ADP on Thursday reported growth in private sector jobs of 497,000.
Click to expand...
 
Payrolls rose 339,000 in May, much better than expected in resilient labor market

Payrolls in the public and private sector increased by 339,000 for the month, better than the 190,000 Dow Jones estimate and marking the 29th straight month of positive job growth.

The unemployment rate rose to 3.7% in May against the estimate for 3.5%, even though the labor force participation rate was unchanged. The jobless rate was the highest since October 2022, though still near the lowest since 1969.
Click to expand...

https://www.cnbc.com/2023/06/02/jobs-report-may-2023-.html
 
Job growth totals 253,000 in April, beating expectations even as the U.S. economy slows

Nonfarm payrolls increased 253,000 for April, beating Wall Street estimates for growth of 180,000.

The unemployment rate was 3.4% against an estimate for 3.6% and tied for the lowest level since 1969.

Average hourly earnings rose 0.5% for the month and increased 4.4% from a year ago, both higher than expected.
Click to expand...
https://www.cnbc.com/2023/05/05/jobs-report-april-2023-job-growth-totals-25300-in-april.html
 
Job growth totals 236,000 in March, near expectations as hiring pace slows

Nonfarm payrolls grew by 236,000 for March, compared to the Dow Jones estimate for 238,000 and below the upwardly revised 326,000 in February.

The unemployment rate ticked lower to 3.5% amid an increase in labor force participation, against expectations that it would hold at 3.6%

Average hourly earnings rose 0.3%, pushing the 12-month increase to 4.2%, the lowest level since June 2021.

The unemployment rate for Blacks tumbled 0.7 percentage points to a record low 5%.
Click to expand...

https://www.cnbc.com/2023/04/07/jobs-report-march-2023.html
 
Payrolls rose 311,000 in February, more than expected, showing solid growth

Nonfarm payrolls rose by 311,000 in February, above the 225,000 Dow Jones estimate.

The unemployment rate increased to 3.6%, above expectations.

Average hourly earnings increased 4.6% from a year ago, in a positive sign for inflation.

Leisure and hospitality, retail and government led job creation by sector.
Click to expand...
https://www.cnbc.com/2023/03/10/jobs-report-february-2023.html
 
Will be interesting to see what the market does. I saw last night that Apple and META didn't hit their numbers and the early market was down.
 
UP big.

Jobs report: U.S. economy adds 517,000 jobs in January,
unemployment rate falls to 3.4% as labor market stuns


U.S. job growth blew past expectations in the first month of the year as the labor market continued to breeze through inflation-fighting monetary tightening by the Federal Reserve.

The Labor Department released its monthly jobs report for January at 8:30 a.m. ET on Friday. Here are the numbers, compared to Wall Street estimates:


 
retread said:
"Nonfarm payrolls rose 223,000 in December, as strong jobs market tops expectations"

Exactly what the Fed doesn't want to see. But what they heck, let's throw caution to the wind and keep buying.
Click to expand...

I agree. It must be all about wage inflation right now.
 
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