160,138,000: Record Number of Employed in January

The first employment report of 2023 shows robust strength in the labor market, as the Federal Reserve continues to raise interest rates.

The Labor Department's Bureau of Labor Statistics says a whopping 517,000 non-farm jobs were created in January, way above estimates of 183,000.

"Job growth was widespread, led by gains in leisure and hospitality (+128,000), professional and business services (+82,000), and health care (+58,000). Employment also increased in government (+74,000), partially reflecting the return of workers from a strike," BLS said.

In another headline number, the unemployment rate dropped...