The US Bureau of Labor Statistics (BLS) reported on Friday that Nonfarm Payrolls increased by 517,000 in January. This figure was substantially greater than the market’s projection of 185,000, and it followed a 260,000 gain in December.
The publication also indicated that annual pay inflation, as measured by Average Hourly Earnings, was 4.4%, compared to experts’ expectations of 4.9%.
Furthermore, the Labor Force Participation Rate increased little to 62.4%, while the Unemployment Rate fell to 3.4% from 3.5% in December.
