January’s job report saw a gain of 467,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. Employment gains happened in leisure and hospitality, professional and business services, retail trade, and in transportation and warehousing.
January’s unemployment rate increased to 4.0%, up from 3.9% in December. The civilian labor force participation rate is at 62.2%.
The report found that average hourly earnings for employees on private, nonfarm payrolls rose by 23 cents to $31.63. Over the past 12 months, average hourly earnings have increased by 5.7%.