The Labor Department’s report Friday also showed the unemployment rate ticked up from 3.9% to 4%.
The strong hiring gain, which was unexpected, demonstrates the eagerness of many employers to hire even as the pandemic maintains its grip on the economy. Businesses appear to have seen the omicron wave as having, at most, a temporary impact on the economy and remain confident about longer-term growth.
The overall outlook for the job market remains bright, with openings near a record high, the pace of layoffs down and the unemployment rate having already reached a healthy level. The nation gained more jobs last year, adjusted for the size of the workforce, than in any year since 1978. The unemployment rate fell by nearly 3 percentage points — from 6.7% to 3.9% — the sharpest yearly decline on records.
Snarled supply chains hampered the availability of many goods, especially new and used vehicles, forcing prices up sharply. Prices of food, energy and housing soared, too. High inflation has wiped out many Americans’ pay gains. One reason for the slowdown: Americans cut their spending in January as the spread of the coronavirus discouraged some people from eating out, traveling and going to movies and other entertainment venues.
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US employers shrug off omicron, add 467,000 jobs in JanuaryU.S. employers stepped up hiring in January, adding 467,000 jobs despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed
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US employers shrug off omicron, add 467,000 jobs in JanuaryWASHINGTON (AP) — U.S. employers added a burst of 467,000 jobs in January despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed.
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U.S. Added Back 467,000 New Jobs In January—But Unemployment Rate Ticked Up To 4%Despite a record wave of Covid-19 cases, the job market performed much better than economists expected in January.
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US added a surprisingly positive 467K jobs in January, report saysThe Bureau of Labor Statistics reported Friday that the U.S. added 467,000 jobs in January — a report that far outpaced bleak projections by analysts who were concerned about the effect the omicron variant had on the economy.
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US job growth beats expectations in January; unemployment rate at 4.0%The U.S. economy created far more jobs than expected in January even as raging COVID-19 infections disrupted activity at consumer-facing businesses, pointing to underlying strength in the labor market.
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U.S. Added 467,000 Jobs in JanuaryThe U.S. added 467,000 jobs in January and the unemployment rate rose to 4% as the economy weathered the Omicron variant of Covid-19 and staffing shortages WSJWhatsNow
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