Economy adds 225,000 jobs in January, unemployment rate ticks up to 3.6%
The U.S. economy added a better than expected 225,000 jobs in January, while the unemployment rate rose slightly to 3.6%. Average hourly earnings increased slightly more than expected in January over last year.
Beneath the headline results, the labor force participation rate rose to 63.4%, or the highest level since 2013, from 63.2% in December. A higher labor force participation rate indicates a greater proportion of the working-age population is working or actively seeking employment. Retail trade, however, was a weaker spot in the services sector in the January jobs report, reflecting some payback after surging December hiring in these industries around the holidays. Retail trade lost 8,300 payrolls in January.
Ahead of the January jobs report, a number of other employment indicators presaged ongoing momentum in the labor market.
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