The Bureau of Labor Statistics (BLS) releases the January jobs and labor report - 225,000 jobs gained in January; non-supervisory wage growth against exceeds supervisory at 3.2%; and 185,000 workers re-entered the workforce.
The 225,000 new jobs far exceeded expectations. Economists were looking for 160,000.
Also the November report was revised up by 5,000 and the change for December was revised up by 2,000. With these revisions, employment gains in November and December combined were 7,000 higher than previously reported.
These excellent jobs results are without the domestic investment expected to be produced by the USMCA manufacturing realignment. As goods producing companies start evaluating the new total production costs, the investment shift toward North America will likely keep a tailwind on our economic growth.
by sundance
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