January’s job report saw an increase of 227,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. Jobs gains were in retail trade, construction and financial activities.
Over the past three months, job gains have averaged 183,000 per month.
January’s unemployment rate has risen slightly to 4.8%, up from 4.7% in December. The civilian labor force participation rate rose slightly to 62.9%.
The report found that in January, average hourly earnings for employees on private, nonfarm payrolls increased by 3 cents to $26.00. Over the year, average hourly earnings have risen by 2.5%.