After the lack of 14 percent of the nation’s jobs early in the Covid-19 pandemic, the labor market’s endurance regardless of aggressive rate of interest will increase has caught economists off guard. The report additionally put a fair shinier gloss on job progress for 2023, including revisions that added greater than a hundred,000 to the figure previously tallied for December. All informed, employers added three.1 million jobs last yr, more than the two.7 million initially reported.
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January Jobs Reportus Job Progress Surges
“It’s a labor market that has power, and there’s a path ahead of it where it can proceed to grow in a sustainable manner,” Bunker mentioned. Newly released data for February showed the US quits price had been 2.2% for four straight months. There had been 3.5 million quits in February, which the BLS news release noted this metric “was little changed.”