US Economy Added 467,000 Jobs in January, Beating Estimates Amid Omicron Surge
Summary from the AllSides News Team
The U.S. economy added 467,000 jobs in January while the unemployment rate rose to 4%, the Bureau of Labor Statistics (BLS) reported Friday.
Economists generally expected payroll growth of 150,000 and a 3.9% unemployment rate. The data followed a different report from payrolls processing firm ADP earlier this week, which said the private sector lost 301,000 jobs in January. Amid a record-breaking surge of new COVID-19 cases in early January fueled by the Omicron variant, a record number of Americans missed work due to illness. The strongest gains by industry were in leisure and hospitality (151K jobs added), professional and business services (86K), and retail trade (61.4K). The BLS report said that overall non-farm employment "has increased by 19.1 million since April 2020 but is down by 2.9 million, or 1.9 percent, from its pre-pandemic level in February 2020."
Outlets across the spectrum covered the news prominently, and framed it as a suprising sign of the economy's resilience even as COVID-19 significantly impacted the workforce. Many pointed out President Joe Biden's celebration of the report and statement that "America's job machine is going stronger than ever."
Featured Coverage of this Story
From the Center
Payrolls show surprisingly powerful gain of 467,000 in January despite omicron surge
Job growth rose far more than expected in January despite surging omicron cases that seemingly sent millions of workers to the sidelines, the Labor Department reported Friday.
Nonfarm payrolls surged by 467,000 for the month, while the unemployment rate edged higher to 4%, according to the Bureau of Labor Statistics. The Dow Jones estimate was for payroll growth of 150,000 and a 3.9% unemployment rate.
The stunning gain came a week after the White House warned that the numbers could be low due to the pandemic.
Covid cases, however, have plunged nationally in recent...
From the Right
US job growth soars past expectations with 467,000 added, shaking off omicron surge
U.S. job growth blew past expectations in January as the economy brushed off a record-breaking surge in COVID-19 cases nationwide that threatened to sideline millions of workers and kept many consumers at home.
The Labor Department said in its monthly payroll report released Friday that payrolls in January rose by 467,000, easily topping the 150,000 jobs gained forecast by Refinitiv economists. The unemployment rate, which is calculated based on a separate survey, ticked up slightly to 4% (the increase is largely because the labor force participation rate climbed to 62.2%, the highest level since the pandemic...
From the Left
Biden touts stronger than expected jobs report: 'America is back to work'
After the White House braced for a disappointing January jobs report officials predicted would be skewed by the omicron variant, President Joe Biden took a victory lap at the White House Friday to tout the unexpected economic win.
"I want to speak to you this morning about an extraordinary resilience and grit of the American people and American capitalism. Our country is taking everything that COVID's thrown at us. We've come back stronger," Biden said. "I'm pleased to report this morning, many of you already know, that America's job machine...
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