An addition of 225,000 US jobs in January 2020 showed a strong sign of strength for the economy
Even with the unemployment rate slightly increasing to 3.6 percent, the jobless rate has stayed close to a 50-year record low. Construction and health care were the sectors with the most robust US job growth, as well as warehousing and transportation, reported the Bureau of Labor Statistics. Beth Ann Bovino, the United States chief economist at S&P Global, said it blew estimates out of the water and is a really nice report. She also commented that the recession fears of the previous year seem to be a thing of the past.
The number of new positions added for the month was well above the 223,000 US jobs added each month of 2018, and 176,000 jobs per month in 2019. The first month of the year was the 112th consecutive month of job increases since 2010. One economist said this was a good way to start the year and that he was surprised at how strong the US job market continues to be.
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