QQQ - January Jobs Report: 353K Jobs Added Nearly Double Expectations

2024-02-02 10:10:07 ET

Summary

• The U.S. economy added 353K jobs in January, according to the Labor Department’s monthly jobs report.
• The labor report also included positive revisions in the prior months data. Notably, December’s 216K gain was revised up to 333K.
• Overall gains for the month nearly doubled expectations.
• The surprisingly strong labor data over the past two months likely takes Fed policy easing in March off the table.

U.S. hiring unexpectedly gained steam in January despite notable layoff announcements by several high-profile companies in recent weeks....

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