{"id":2166449,"date":"2024-02-02T17:28:06","date_gmt":"2024-02-02T22:28:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-economy-added-353000-jobs-in-january-labor-department-report-claims\/"},"modified":"2024-02-02T17:31:45","modified_gmt":"2024-02-02T22:31:45","slug":"u-s-economy-added-353000-jobs-in-january-labor-department-report-claims","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-economy-added-353000-jobs-in-january-labor-department-report-claims\/","title":{"rendered":"January saw a surge of 353,000 jobs added to the U.S. economy, according to a report by the Labor Department"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">40<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-economy-added-353000-jobs-in-january-labor-department-report-claims%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2166449&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Job seekers speak with recruiters during a job fair at Navy Pier \u2063on April 11, 2023 in Chicago, Illinois. Companies at the fair were seeking mostly\u200c seasonal employees to work in\u2062 tourism related fields. The U.S. unemployment rate currently stands at 3.5%. (Photo by Scott \u200cOlson\/Getty Images)<\/figcaption><\/figure>\n<h2>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/james-meyers\">James Meyers<\/a><br \/>2:19 PM \u2013 Friday, \u200cFebruary 2, 2024<\/h2>\n<p>In a surprising increase, the\u2064 U.S. economy added an influx of new career positions even\u2062 though unemployment rates \u2062have stayed steady. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>According to data released on Friday by the Labor Department, the economy added 353,000 jobs in January, and the \u2064unemployment rate clocked in at 3.7 percent. <\/p>\n<p>The latest data released exceeded expectations from the <em>Wall Street Journal<\/em> that predicted 185,000 \u2063jobs would be added\u2062 with a 3.8 percent unemployment rate.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThe \u200dlabor market is the little engine that \u200ccould, and it kept chugging\u2064 away in January: 353,000 net new jobs \u2063is a\u2064 strong start to the year, higher\u2064 than the already impressive average\u2063 monthly job gain of 255,000 for 2023,\u201d said John Leer, chief economist at <em>Morning Consult<\/em>.<\/p>\n<\/blockquote>\n<p>Additionally, wage growth went\u200c up\u200d as average hourly earnings\u2063 increased 0.6%, which was \u2063double the monthly estimate. On a year-by-year basis, wages increased 4.5% well \u2062above the 4.1%\u2063 predictions. <\/p>\n<p>However, according to a recent survey conducted by <em>Pew Research \u2062Center<\/em>,\u200c a low 28 percent of Americans say the economy is in \u201cexcellent or \u2064good shape.\u201d The\u200b largest share \u2062of Americans who rated the economy as good\u200d or excellent at 57% was\u200b in 2020 under former President Donald Trump.<\/p>\n<p>Furthermore, Joe Biden\u2019s current approval rating sits\u2064 at \u200da low\u200c 33%, according to\u200d a poll by \u2063 <em>Decision Desk HQ\/The Hill<\/em> this week.<\/p>\n<p>Inflation remains one of the most crucial issues among voters in 2024 as the Federal Reserve held interest rates at just over 5 percent this week.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cI don\u2019t think it\u2019s likely that the committee will \u200breach a level of \u200cconfidence by the time of the March \u200cmeeting,\u201d Fed Chair \u2064Jerome Powell said at a\u200b news conference following the announcement.<\/p>\n<\/blockquote>\n<p>Stay informed! Receive breaking news blasts\u2062 directly to your inbox for free. Subscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Strong jobs data coincides \u200dwith \u200d<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/january-job-report-reveals-robust-growth-amidst-economic-uncertainty\/\" title=\"Strong job growth reported in January despite economic uncertainty\">planned mass job cuts<\/a>.<\/strong> \u2064 Today\u2019s\u200d January jobs report showed that 353,000 jobs were added. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>The top GOP lawmaker\u200b on the \u200bSenate Homeland Security panel Senator Rand Paul \u2063explains why the CIA has so \u200bfar ignored his request to disclose the results of its investigation into \u2063the origin of the COVID-19 virus.<\/strong> <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Pressure is mounting on President Biden \u200cto take executive action to secure \u2062the Southern Border.<\/strong> One America\u2019s Daniel Baldwin has more.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>The Democrat-aligned Future Forward Political Action \u2063Committee\u200c is \u2062gearing up for a massive television and digital ad\u2063 blitz aimed to boost President Biden ahead of the 2024 election.<\/strong> <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>U.S.\u200c safety\u2064 regulators have upgraded their probe\u200d into Tesla\u00a0vehicles over power steering loss to an engineering analysis.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Nvidia\u00a0has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/peaceful-pro-life-activists-face-up-to-11-years-in-prison\/\" title=\"Pro-life activists may face up to 11 years in prison despite their peaceful actions\">started taking pre-orders<\/a> for a new China-specific AI \u200cchip with prices on par with \u200ca rival \u200dproduct from Huawei.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>The Tesla chief executive and a board seen as captive to him must find a way to negotiate a replacement contract.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Qualcomm\u00a0forecast\u2064 fiscal \u200bsecond-quarter profit slightly above Wall Street estimates and sales in line with market expectations.<\/strong><\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What factors could explain the surprising increase in job growth\u2064 despite steady unemployment rates in the U.S.?<\/h2>\n<p><span>  \u200cSurprising Increase in U.S. Job Growth Despite Steady \u200bUnemployment Rates<\/p>\n<p>In a\u2064 surprising turn of\u2062 events, \u200dthe U.S. economy\u2063 has witnessed a significant increase in new job positions, despite the unemployment rate remaining \u2063steady. According to data\u2062 released by the Labor Department on \u2062Friday, the \u2063economy added 353,000\u2064 jobs in January, \u2064with an\u200c unemployment rate \u200cof 3.7 percent.<\/p>\n<p>This latest data\u200c has exceeded expectations from the Wall Street Journal, which had predicted the addition\u2063 of 185,000 jobs with a 3.8 percent\u200c unemployment rate. It \u200bis indeed a strong start to the year, outperforming the already impressive average\u2063 monthly job gain of 255,000\u2064 in 2023, as \u200bstated\u200b by John Leer, \u2062the \u200cchief economist at \u200bMorning Consult.<\/p>\n<p>Furthermore, there has been notable growth in wages,\u2064 with average hourly earnings increasing by 0.6 percent, which is\u2063 double the monthly estimate. On a year-by-year basis, wages have gone up \u2063by 4.5 percent, surpassing the predicted 4.1 percent \u2064increase.<\/p>\n<p>Despite these\u200d positive \u2062indicators, a recent\u2062 survey conducted by\u2064 Pew Research \u200bCenter\u200c shows that only 28 percent of Americans \u200cconsider the economy\u200b to be in \u200c&#8221;excellent or good shape.&#8221; This figure is\u2063 considerably lower than the 57 percent who rated the economy positively in 2020 under former President\u200b Donald \u2064Trump.<\/p>\n<p>Moreover, President \u2064Joe Biden&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sub-zero-interest-gavin-newsom-says-he-doesnt-want-to-run-for-president-backs-kamala-harris-instead\/\" title=\"\u2018Sub-Zero Interest\u2019: Gavin Newsom Says He Doesn\u2019t Want To Run For President, Backs Kamala Harris Instead\">current approval rating stands<\/a> at a mere 33 percent, according to a recent poll by Decision Desk HQ\/The Hill. This reflects the public&#8217;s concern and dissatisfaction with the state of\u200c the economy under\u2063 Biden&#8217;s leadership.<\/p>\n<p>Additionally, inflation remains \u2063a significant\u2063 concern among \u200cvoters in 2024. The Federal Reserve has held interest rates just over 5 percent\u200d this week. Fed Chair Jerome \u2063Powell stated that it is unlikely that the committee will reach a level of confidence to\u2062 make\u2063 any\u200b changes during \u200bthe March meeting.<\/p>\n<p>In conclusion, the recent \u200cincrease in\u2064 job growth is undoubtedly \u2064a positive sign for the U.S. economy. However, the survey \u2063results and public opinion highlight the need for the government to address concerns and work towards\u2063 improving economic conditions. The upcoming months will be \u2062crucial in determining the\u200b direction of \u200cthe nation&#8217;s economy and its impact on the labor\u2063 market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Job seekers meet recruiters at a job fair in Chicago, Illinois. Companies are looking for seasonal employees in tourism. The U.S. unemployment rate is 3.5%. (Photo: Scott Olson\/Getty Images) OAN\u2019s James Meyers 2:19 PM \u2013 Fri, Feb 2<\/p>\n","protected":false},"author":2301,"featured_media":2166450,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/c3.oann.com\/wp-content\/uploads\/2024\/02\/GettyImages-1481494163-e1706904763648.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2166449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/c3.oann.com\/wp-content\/uploads\/2024\/02\/GettyImages-1481494163-e1706904763648.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2166449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2301"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2166449"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2166449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2166450"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2166449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2166449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2166449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}