ICYMI: The U.S. added 467,000 jobs in January, vs. 150,000 est.
Along with the big upside surprise for January, massive revisions sent previous months considerably higher.
"The benchmark revisions helped the numbers a bit just because it moved out some of the seasonal factors that have been at work. But overall the job market is strong, particularly in the face of omicron," said Kathy Jones, chief fixed income strategist at Charles Schwab. "It's hard to find a weak spot in this report."
A more encompassing level of unemployment that counts discouraged workers and those holding part-time jobs for economic reasons dropped to 7.1%, a 0.2 percentage point decline and to just above its pre-pandemic level. Those working part-time for economic reasons fell by 212,000 in January, with the total level down 37% from a year ago.
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Payrolls Gain 467,000 in January Despite Omicron SurgeNonfarm payrolls were expected to increase 150,000 in January, according to economists surveyed by Dow Jones.
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US employers shrug off omicron, add 467,000 jobs in JanuaryThe Labor Department’s report Friday also showed the unemployment rate ticked up from 3.9% to 4%.
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