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U.S. economy adds 353,000 jobs in January
Research - FEBRUARY 12, 2024

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U.S. economy adds 353,000 jobs in January

by Lewis Dayton

The total nonfarm payroll employment in the United States increased by 353,000 in December, notably surpassing estimates, though the unemployment rate remained steady at 3.7 percent.

The major employment-adding sectors were professional and business services (74,000), healthcare (70,000), retail trade (45,000), social assistance (30,000), manufacturing (23,000) and government employment (36,000).

Employment fell in mining (–7,000) but showed little change in other major industries such as construction, wholesale trade, transportation and warehousing, financial activities, and leisure and hospitality.

Average hourly earnings in December for all employees on private nonfarm payrolls rose by 0.6 percent, or 19 cents, to $34.55. The average hourly earnings have increased by 4.5 percent during the past 12 months.

The average work week for all employees on private nonfarm payrolls decreased by 0.2 hour in January, to average 34.1 hours, down by 0.5 hour throu

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