Private employers added 291 000 jobs in January, exceeding economists ‘ expectations of a monthly increase. This writes Fox Business.
The total number significantly exceeded 156 000 jobs — these rates did economists.
“Mild winter weather provided a significant increase in employment in January — said the chief economist of Moody’s mark Zandi. — In the leisure industry, hotel business and construction in particular has increased the number of jobs”.
The growth was distributed across sectors, led by services, which accounted for 237 000 new jobs created in January, and in the sector of production of goods — 54 000.
In particular, the construction was created 47 000 places, the best monthly gain since April. The manufacturing sector has increased the number of labour force per 10,000. On education and health also had 70 000 jobs, and in the sector of leisure and hospitality appeared 96 000 jobs.
Leisure, hospitality and construction are among the most weather-sensitive industries.
“I guess, extracting from the vagaries of these data, going beyond the weather conditions, the main jobs growth probably accounted for nearly half of the January increase, probably about 150,000 jobs,” said Zandi.
This assessment, according to him, it is stable enough to support record low unemployment.
The data is preceded by the release of a more detailed report of the labour Department, which is expected to show that the US economy added 160 000 jobs in January. Analysts expect the unemployment rate to remain at 3.5%, which is half a century at least.