U.S. Economy Adds 304k Jobs, Shatters Expectations | NTK Network U.S. Economy Adds 304k Jobs, Shatters Expectations

U.S. Economy Adds 304k Jobs, Shatters Expectations

Those anticipating that the partial government shutdown would hamper economic growth were forcefully corrected on Friday when BLS released January’s economic data.

By NTK Staff | 02.01.2019 @9:30am
U.S. Economy Adds 304k Jobs, Shatters Expectations

The U.S. economy added 304,000 jobs in the month of January, according to the latest report from the Bureau of Labor Statistics. Experts anticipated job growth to be 170,000, according to CNBC.

The unemployment rate ticked up one-tenth of a percentage, from 3.9 percent to 4.0 in January, “a likely effect of the shutdown.”

In all, it was a powerful performance at a time when economists increasingly have said they expect growth to slow in 2019. January marked 100 months in a row of positive job creation, by far the longest streak on record.

Stock futures and Treasury yields jumped in response to the better-than-expected report.

While not addressing the jobs numbers directly, President Donald Trump did celebrate the success of the stock market on Twitter Friday morning:

The January job growth is a continuation of growth from 2018, which saw an average monthly job gain of 223,000.

CNBC reported on Thursday that worker wage gains for the past year broke 3 percent for first time in 10 years.

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