304,000 Jobs Added in January, Unemployment Rate rises to 4.0 percent

Total nonfarm payroll employment grew by 304,000 in January, an increase from last month, according to the Bureau of Labor Statistics. The national unemployment rate rose from 3.9 percent to 4.0 percent.

Private service-providing industries gained 224,000 jobs, led by leisure and hospitality, which added 74,000 jobs.

Goods-producing employment rose by 72,000 jobs during the month, as gains in construction led by adding 52,000 jobs.

The civilian labor force participation rate ticked up to 63.2 percent.

Average hourly earnings rose by 3 cents, settling at $27.56. Over the past year, average hourly earnings have risen by 85 cents, or 3.2%.

Read the BLS release.

About Hugo Dante

Hugo Dante
Hugo Dante is a research associate in the Economic Policy and Research group at the ABA.
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