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The economy added 225,000 jobs in January, showing continued strength

Economic Policy,Banking And Finance,Unemployment,Labor,Stock Market,Economy And Jobs

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The U.S. economy added 225,000 jobs in January, surpassing analysts predictions in a sign of continued growth for the economy.

The unemployment rate ticked up slightly to 3.6 percent, remaining near a 50 year low.

Job gains picked up in construction, health care, as well as transportation and warehousing, according to the Bureau of Labor Statistics.

“I can say that it pretty much blew estimates out of the water,” said Beth Ann Bovino, the Chief U.S. Economist at S&P Global. “It’s just a really nice report. I’d also say that the recession fears of last year seem to be a thing of the past when you look at this report.”

The number of jobs added for the month was well above the average of 176,000 jobs per month in 2019, and 223,000 in 2018. In 2019, the U.S. added 300,000 jobs in January, an impressive uptick that federal statisticians surmised had spiked because of the government shutdown as people took on part-time jobs.

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